Magnachip CEO, CFO Take Pay Cuts Until Performance Improves

Dow Jones

05/01

By Paul Ziobro

Magnachip's top two executive agreed to pay cuts until the company posts consecutive quarters with positive operating income.

According to a filing with the Securities and Exchange Commission on Wednesday, Chief Executive Young-Joon Kim has agreed to a 20% reduction is his annual salary, while Chief Financial Officer Shin Young Park is taking a 10% cut to her annual salary, effective April 1.

The reduction will remain in effect until the semiconductor company reports operating income greater than zero for any two consecutive fiscal quarters, according to the filing.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

April 30, 2025 17:59 ET (21:59 GMT)

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Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MX","symbol_name":"Magnachip Semiconductor","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2532092759","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2532092759","pubTimestamp":1746050340,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Magnachip's top two executive agreed to pay cuts until the company posts consecutive quarters with positive operating income.According to a filing with the Securities and Exchange Commission on Wednesday, Chief Executive Young-Joon Kim has agreed to a 20% reduction is his annual salary, while Chief Financial Officer Shin Young Park is taking a 10% cut to her annual salary, effective April 1.The reduction will remain in effect until the semiconductor company reports operating income greater than zero for any two consecutive fiscal quarters, according to the filing.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MX":"Magnachip Semiconductor","BK4518":"OLED概念","BK4141":"半导体产品"},"translate_title":"Magnachip首席执行官、首席财务官降薪直至业绩改善","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MX":0.9},"content_text":"By Paul Ziobro \n\n\n  Magnachip's top two executive agreed to pay cuts until the company posts consecutive quarters with positive operating income. \n\n\n  According to a filing with the Securities and Exchange Commission on Wednesday, Chief Executive Young-Joon Kim has agreed to a 20% reduction is his annual salary, while Chief Financial Officer Shin Young Park is taking a 10% cut to her annual salary, effective April 1. \n\n\n  The reduction will remain in effect until the semiconductor company reports operating income greater than zero for any two consecutive fiscal quarters, according to the filing. \n\n\n  Write to Paul Ziobro at paul.ziobro@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 30, 2025 17:59 ET (21:59 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}