AuMake (ASX:AUK) said three members of its board, including its chief executive officer, have reduced their annual remuneration to AU$75,000, cutting board and executive pay by 60% to save over AU$400,000 annually, according to a Monday Australian bourse filing.
The company said its CEO will undertake a detailed and systematic review of the company's fixed cost base to achieve cash flow positivity and profitability.
The company sees "strong" growth potential in China, where demand is expected to rise for premium international products, particularly in the health, wellness, and lifestyle sectors.
The company's shares dropped 25% in recent Monday trade.
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