Covid-19: Apollo Tyres' top management takes 15-25% pay cut

The top management of Apollo Tyres has voluntarily decided to take a pay cut in the wake of the coronavirus (COVID-19) crisis.

The Chairman and Managing Director, Onkar S Kanwar and the Vice Chairman & MD, Neeraj Kanwar today announced a 25% reduction in their salary. Other members of the senior management have also taken a 15% reduction in their salary.

The decision was take as the pandemic has started impacting sales and profitability and it is believed that the worst is yet to come.