Due to the COVID-19 pandemic, Unibail-Rodamco-Westfield has implemented partialactivity measures in various countries to protect its employees, preserve employment where possible and to allow a swift return to full capacity as soon as health and safety conditions permit.
As a sign of solidarity with all employees, and with the full support of the Supervisory Board of URW, the Group CEO, Christophe Cuvillier, the Group CFO, Jaap Tonckens, and all members of the Group’s SeniorManagement Team have taken the initiative to reduce their remuneration by -25% for the period during which the partial activity measures will be in place. In recognition of this effort, the members of URW’s Supervisory Board have chosen to reduce their fees by the same percentage, and all the senior executives ofthe Group’s US and European management committees have decided to reduce their fixed income by -20% during this period.
The unpaid remuneration will be donated to support efforts to fight the COVID-19 crisis in all countries in which URW operates.
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