Chief Executive Officer Mike Manley said in the memo he will take a 50 percent pay cut for three months starting April 1, while Chairman John Elkann and FCA's board of directors will forego the remainder of their 2020 compensation. FCA said most global salaried employees will be asked to take a temporary 20 pct pay cut.
U.S. new vehicle sales likely drove off a cliff in March as the coronavirus pandemic pounded consumer confidence and shuttered dealerships across much of the country, and sales are likely to take a further beating in April as social distancing guidelines remain in place. "When you look at March, we basically lost half the month," said Eric Lyman, chief industry analyst at car-shopping website TrueCar.com . A rebound for the sector will likely depend on how long the crisis lasts and wha
An independent director, mutually agreed on by Impala and Harley, will join the board after the company's annual meeting, which was held in May last year, and before July 31. Impala, which owns roughly 2% of Harley's stock, nominated two directors two weeks ago as the $2.8 billion hedge fund wanted the iconic American brand to return to its roots after focusing on electric motorcycles and concentrate on its core riders. Harley and Impala entered the "agreement in the spirit of cooperation duri
