Solarworld CEO waives pay

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Friday, July 20, 2012

Solarworld CEO Frank Asbeck has opted to relinquish his pay until the company is profitable again.

“I will forgo my salary, my bonus and my dividend payments till Solarworld writes profits again,” the CEO of the Bonn- based solar-panel maker said.

In 2011 Asbeck earned 500,000 euros ($612,800), he holds 28 percent of Solarworld and received dividend payments of 2.5 million euros ($3.1 million), Handelsblatt reported.

Read more at Bloomberg.

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