Microchip cuts CEO and executive salaries by 20% effective Feb 19, 2024

MICROCHIP TECHNOLOGY INC

CEO Ganesh Moorthy and other NEOs (Sanghi, Simoncic, Bjornholt, Drehobl) take 20% salary cut.
Non-employee board members also receive 20% reduction in cash compensation.
Salary reductions effective February 19, 2024, as part of broader expense reduction actions.
Compensation Committee approved the cuts on February 2, 2024.

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