KLM boss Pieter Elbers will hand in a fifth of his fixed salary for the rest of this year. He announced this during the shareholders’ meeting of the company.
According to Elbers, the crisis requires extra efforts from everyone within the company.
According to Elbers, the impact of the coronavirus on KLM is unprecedented. “No one has been able to foresee the crisis we are in now, and developments have followed up rapidly in recent weeks,” said the KLM boss.
“It is now clear that the consequences of COVID-19 are not only great but will also last longer.”
Lately, there has been a lot of controversy about the rewards at KLM and its parent company Air France-KLM. Long-term remuneration policy was previously on the agenda.
Elbers’ long-term bonus would go up from 75 percent to up to 100 percent of his base salary. Elbers had previously indicated that he would give up his bonus for 2020.
However, due to the turmoil caused by the proposal, the item on the remuneration policy was taken off the agenda.
Finance Minister Wopke Hoekstra was, to say the least, not happy with the intended policy change, also because of the emergency support that KLM is likely to receive to get through the crisis.