Renault cuts CEO Ghosn's pay after shareholder revolt

French carmaker Renault said it would cut chief executive Carlos Ghosn's pay after a spat with shareholders that saw the government threaten to change the law. The company will cut the variable part of Ghosn's salary by 20 percent, change how it is calculated and cap it at 180 percent of his fixed salary. The council said the CEO's pay packet was "consistent" with his peers in the industry and pointed to Renault's strong results last year, when earnings rose almost 50 percent.