Magnachip CEO cuts salary 20%, CFO cuts 10% until operating income positive for 2 quarters

MAGNACHIP SEMICONDUCTOR Corp

CEO Young-Joon Kim reduces annual base salary by 20% effective April 1, 2025 until operating income >$0 for two consecutive fiscal quarters.
CFO Shin Young Park reduces annual base salary by 10% under same condition; salary reverts on change of control or profitability.
CFO also gets raise to $360k (from $350k) in amended agreement and enhanced severance during change-of-control periods.
CEO and CFO salary reductions are voluntary; original salary used for bonus and severance calculations.

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