London — In a press release, CNH Industrial announced it is donating $2 million to the CNH Industrial Foundation and to other charitable projects throughout the world, with a focus on supporting individuals and communities impacted by the virus. This pledge is in addition to the Company’s ongoing donations of medical equipment supplies, including ventilators, personal protective equipment, electrical generators and ambulances, to healthcare providers in the regions in which the Company operates.
Furthermore, to demonstrate solidarity with its workforce, the CNH Industrial senior management team has elected to forego temporarily part of its compensation. The Company’s Board of Directors have agreed not to take any of their remuneration for the rest of year, the Acting Chief Executive Officer will take a 50% salary reduction for three months, and the Global Executive Committee will take a 20% salary reduction for three months.
CNH Industrial recently announced it would extend the closure of its European assembly operations through April 17.