PetVivo Holdings (PETV) has shared an announcement.
In a strategic move to tighten its financial belt, the company has announced a significant salary cut for its senior leadership, including a reduction in the COO’s annual salary from $270,000 to $150,000. This decision is part of a broader cost reduction program aimed at preserving cash flow and minimizing operating losses. The collective salary reductions for the top executives, including the CEO and Chief Business Development Officer, will slash their combined salaries by over 50%, reflecting the company’s commitment to reducing its monthly cash burn.
For a thorough assessment of PETV stock, go to TipRanks’ Stock Analysis page.
