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LEVI - Levi Strauss & Co News Story

$12.63 -0.3  -2.2%

Last Trade - 4:45pm

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £3.92bn
Enterprise Value £4.14bn
Revenue £3.85bn
Position in Universe 1108th / 6376

BRIEF-Levi Strauss Borrows $300 Mln, Executives Take Pay Cuts

Tue 7th April, 2020 11:21pm
April 7 (Reuters) - Levi Strauss & Co  LEVI.N :
    * ON APRIL 2, 2020, COMPANY PROVIDED NOTICE TO ITS LENDERS
TO
BORROW $300.0 MILLION UNDER CREDIT FACILITY
    * DETERMINED TO TEMPORARILY REDUCE BASE SALARY IN EFFECT FOR
COMPANY'S CHIEF EXECUTIVE OFFICER, CHARLES V. BERGH, BY 50%
    * DETERMINED TO TEMPORARILY REDUCE BASE SALARIES OF OTHER
EXECUTIVE OFFICERS BY 25%, EFFECTIVE ON APRIL 27, 2020
    * BOARD ALSO ELECTED TO TEMPORARILY FOREGO ITS CASH RETAINER
COMPENSATION FOR BOARD SERVICE

Source text: (https://bit.ly/39TyBI1)
Further company coverage:  LEVI.N 

 ((Reuters.Briefs@thomsonreuters.com;))
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