Rome

'To do' decree amended to give 25% pay cut to managers

Would affect listed companies under public control

'To do' decree amended to give 25% pay cut to managers

Rome, August 2 - Managers of listed companies under public control will have to take a 25% pay cut according to an amendment the Italian cabinet tacked onto the ''to do'' decree Friday. The text of the amendment reads, ''total economic compensation can not be established as higher than 75%'' of the mandate ''preceding renewal''. The Italian state is the largest shareholder in a number of listed companies, including defence and technology conglomerate Finmeccanica and the international gas and oil company ENI.

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