ADK Executives to Reduce or Return Portions of Their Salaries
From November 2008, ADK reduced their full-time directors’ monthly salaries depending on job title. This action was taken to highlight the Company’s decisive approach toward overcoming the severe recent economic environment.
On March 30, 2010, the Board of Directors held a meeting following the conclusion of the Company’s 55th Ordinary General Meeting of Shareholders. At the meeting, recognizing that business conditions will remain severe for some time, the Board subsequently decided to reduce directors’ total monthly compensation even further. Specific details are shown below.
In addition, the Board of Corporate Auditors offered to voluntarily return part of each corporate auditor’s salary to the Company from April 2010.
1. Reductions of basic monthly salaries
|Chairman Emeritus||35% reduction|
|Executive Director & Senior Operating Officer||25% reduction|
|Executive Director & Operating Officer||20% reduction|
2. Period of salary reductions
The salary reductions starting in April 2010 will continue until further notice.