PARIS, March 2 France's government has asked the
chief executives of companies in which it owns a minority stake
to accept pay cuts of up to 30 percent in upcoming pay rounds as
the country tightens its belt, the daily Le Figaro reported on
Citing state and company sources, Le Figaro said the
Socialist government wanted companies including Air France
, carmaker Renault, Safran and GDF
Suez to reduce their CEOs' salaries.
The agency that manages state shareholdings is seeking pay
cuts of up to 30 percent during talks with several companies,
but that figure is merely a guideline, the newspaper reported.
No government source was quoted in the report.
President Francois Hollande, who is struggling with rock-
bottom approval ratings, previously ordered the wages of CEOs of
companies in which the state holds a majority stake to be
limited to 450,000 euros ($621,500) per year.
The government does not have the authority to impose salary
limits in companies in which it holds a minority stake, but can
apply pressure via a consultative vote.
($1 = 0.7240 euros)
(Reporting By Nicholas Vinocur; Editing by Kevin Liffey)