Chariot: Board takes pay cut


Issue 300 - 15 May 2015 | 1 minute read

Chariot Oil & Gas has announced a 50% pay cut for its board members, while chief financial officer (CFO) Mark Reid is to step down. Group financial controller Julian Maurice-Williams will be promoted to acting CFO. Chariot said the measures would save $1.5m over the next year. “Further to an in-depth review with due consideration of the strategy, the portfolio and current market conditions, the board has deemed it financially prudent to reduce its overall remuneration by 50%,” Chariot said.

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