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Apollo Tyres Leadership Team announces voluntary reduction in pay due to COVID-19

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The Apollo Tyres Leadership Team has announced a voluntary reduction in pay due to the impact of COVID-19 on the automotive industry.

The Chairman and Managing Director, Onkar S Kanwar and the Vice Chairman & MD, Neraj Kanwar today announced a 25% reduction in their salary during these tough, testing times. Furthermore, the Senior Management has also taken a voluntary reduction in their salary by 15% in a show of solidarity due to the rapidly deteriorating market conditions caused by the COVID-19 pandemic.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 20 2020. 13:58 IST