“The corona crisis is acquiring unprecedented effect on KLM.”
At the once-a-year common conference of shareholders of KLM Royal Dutch Airlines, Pieter Elbers, the airlines president & CEO, knowledgeable shareholders that he will consider a 20% wage minimize for the remainder of the year.
The corona crisis is acquiring unprecedented effect on KLM. No one could ever have foreseen the existing situation, with developments presenting on their own at a fast fee in recent months. It is now crystal clear that the effect of this crisis is not only huge, but will go on for some time. This will demand from customers larger concentration on prices and more attempts from every person. Now I knowledgeable the Supervisory Board and the once-a-year common conference of shareholders that I will consider a 20% minimize in mounted wage until finally the conclude of the year. I am confident that KLM will climate this storm and I am happy of the flexibility and devotion of the entire KLM workforce less than these challenging situation. I am also grateful for the loyalty we are even now seeing from our buyers and for the assist getting made available to companies by the Dutch governing administration. Jointly, we will go on concentrating on retaining as numerous employment as probable for KLM workers and on utilising our route community optimally in the pursuits of broader Dutch society. Pieter Elbers – KLM President & CEO
KLM earlier determined and declared the pursuing in response to the corona crisis: the mounted salaries of the Board of Controlling Directors will not be elevated in 2020, shell out-out of variable remuneration for 2019 has been postponed, and board members have waived their ideal to variable remuneration for 2020. Moreover, the earlier proposed amendment of future government remuneration plan, to begin with scheduled for discussion at todays shareholder conference, was scrapped from the agenda.
The Supervisory Board is grateful for the excellent fashion in which the KLM management has teamed up with all KLM workers to tackle this unprecedented crisis. We also appreciate Pieters initiative to consider a minimize in his mounted wage. Beforehand, the KLM Supervisory Board and Board of Controlling Directors agreed to waive their ideal to variable remuneration and wage will increase in 2020. The proposal to amend future remuneration plan should really not have been placed on the agenda. Cees t Hart, chairman of the KLM Supervisory Board
Appointments to the KLM Supervisory Board
The shareholders now voted in favour of appointing Christian Nibourel to the KLM Supervisory Board. Mr Nibourel is at present chairman of the consultancy OneUp. He was earlier CEO of Accenture for the Benelux and France. He succeeds Philippe Calavia, who will action down right after 8 many years on the KLM Supervisory Board.
The shareholders also voted in favour of the reappointment of François Enaud and Pierre-François Riolacci for a second four-year time period on the KLM Supervisory Board.
Allocation of benefits
Through the conference, the allocation of benefits was also spelled out. Of the EUR 449 million in web income earned in 2019, EUR 429 million will be extra to the KLM reserves. A sum of EUR 20.six million will be compensated out to the holders of regular shares, precedence shares, cumulative preferential A shares, and cumulative preferential C shares. It has been agreed that the sum earmarked for AIR FRANCE KLM as a shareholder (EUR 20 million) will not be compensated out at current.
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