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Hochschild Mining cuts executive pay further

Reuters - UK Focus

Dec (Shanghai: 600875.SS - news) 10 (Reuters) - Hochschild Mining Plc (Other OTC: HCHDF - news) said Chairman Eduardo Hochschild would become non-executive chairman from Jan. 1, and that it was further slashing executive pay as part of ongoing cost cuts to steady itself against falling silver and gold prices.

The company said it would pay non-executive directors 30 percent less, and that Deputy Chairman Roberto Danino had waived the fee payable to him as special adviser to the company. (Reporting by Richa Naidu in Bengaluru; Editing by Gopakumar Warrier)