07/06/2010 10:30
The remunerations of the members of the Boards of Directors have become victims of the economic crisis, especially in loss-making companies.
The meetings of Chris Joannou and Philoktimatiki on Friday showed the difficulties that the Board members of listed companies might face this year in the approval of their fees.
In the case of CJ, the meeting decided not to allocate fees to the Board members due to the global crisis.
CJ is active in the import of food and cleaning goods, which are disposed through super markets. In 2009, it reduced its losses to €591.1 thousand against losses of €789.5 thousand in 2008.
Philoktimatiki decided the same; its remunerations stand at €1710 per annum (per Director) plus the meeting expenses (€45 per meeting).
Philoktimatiki, which is active in the sector of land development, suffered losses of €38.9 thousand in 2009 against profits of €619.4 thousand in 2008.
The meetings of Chris Joannou and Philoktimatiki on Friday showed the difficulties that the Board members of listed companies might face this year in the approval of their fees.
In the case of CJ, the meeting decided not to allocate fees to the Board members due to the global crisis.
CJ is active in the import of food and cleaning goods, which are disposed through super markets. In 2009, it reduced its losses to €591.1 thousand against losses of €789.5 thousand in 2008.
Philoktimatiki decided the same; its remunerations stand at €1710 per annum (per Director) plus the meeting expenses (€45 per meeting).
Philoktimatiki, which is active in the sector of land development, suffered losses of €38.9 thousand in 2009 against profits of €619.4 thousand in 2008.
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