The media group Rush has agreed to lower the annual remuneration of its Chief Executive Officer (CEO) and Senior Management a 35% and has reduced a twenty% compensation for their advisers. Prisa will also give priority to the “implementation of actions in the workplace that best enable the maintenance of employment in the current socioeconomic environment” due to the impact of the coronavirus.
The company has launched “a contingent plan to adapt the cost structures of its businesses to the foreseeable circumstances in the coming months“and has begun with this measure. In addition, it has agreed that the annual accounts corresponding to the 2019 fiscal year be formulated within the period established in the”Royal Decree-Law 8/2020, of extraordinary urgent measures to face the economic and social impact of COVID-19 “, which allows delaying the publication of the results of listed companies.
The Council has also approved various measures and actions to preserve sufficient levels of liquidity throughout the Group and in its businesses, maintaining the commitment of divestments in non-strategic assets already identified in the company’s deleveraging plans.
The set and scope of these actions have been defined with the aim of to be able to keep the strategic plan that Prisa has in place, based on the strengthening of the supply of education and learning systems, as well as the intensification of digital transformation actions of the different media.
The Council has also agreed “to make explicit its special recognition to all the Group’s professionals, for the intense effort and dedication that all of them are carrying out in conditions, like the present ones, of extreme difficulty “.