By Jessica Sier

LVMH Moet Hennessy Louis Vuitton SE's executive management will give up their remuneration for April and May to help cushion the economic damage caused by the spread of the coronavirus, the company said on Friday.

Bernard Arnault, chairman and chief executive of the the French conglomerate, and all members of the executive board will forfeit their remuneration for both months, as well as any bonus for 2020.

The board members of LVMH have also reduced their attendance fees by 30% for 2020.

Write to Jessica Sier at jessica.sier@wsj.com

(END) Dow Jones Newswires

April 16, 2020 13:04 ET (17:04 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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