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Renault says cuts CEO's regular bonus by 20 percent

Reuters
Carlos Ghosn attends Renault's 2015 annual results presentation at their headquarters in Boulogne-Billancourt, near Paris, France, February 12, 2016. REUTERS/Benoit Tessier (Reuters)

PARIS (Reuters) - Renault on Wednesday said it had cut the bonus of Chief Executive and Chairman Carlos Ghosn by 20 percent to an amount equal to 120 percent of his annual remuneration. However, the company added that Ghosn's bonus could reach a maximum amount equal to 180 percent of his salary in the event Renault outperformed. Ghosn also told the board he would give 1 million euros (1 million pounds)from his bonus to Renault's foundation. (Reporting by Astrid Wendlandt, editing by Richard Lough)