China’s biggest supplier of concrete-making equipment, plans to cut its chairman’s annual salary to 15 cents and slash the pay of board members by as much as 90 percent because of the financial crisis.
The board won’t consider pay cuts for employees below mid- level management, the statement said. Xiang was paid 550,000 yuan in 2007, and Yi 470,000 yuan, according to Sany’s latest available annual report
. Tang’s compensation wasn’t disclosed.