tiprankstipranks
Trending News
More News >

Microchip Executives Take Pay Cut Amid Cost-Cutting Measures

Microchip Executives Take Pay Cut Amid Cost-Cutting Measures

Microchip (MCHP) has released an update to notify the public and investors about its officers.

Microchip Technology Incorporated is taking decisive steps to cut costs, with its management team leading by example. Starting February 19, 2024, the top executives, including the CEO and President Ganesh Moorthy, will receive a 20% salary cut. This reduction also extends to other key members of the executive team and, pending board approval, will include a similar cut in cash compensation for non-employee board members.

For further insights into MCHP corporate activity, check out TipRanks’ Insiders Trading Activity page.

For a comprehensive understanding of the announcement, you can read the full document here.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App