SOCIETE GENERALE: ANNUAL GENERAL MEETING AND BOARD OF DIRECTORS DATED 23 MAY 2017
23 Mai 2017 - 7:57PM
Paris, 23 May 2017
ANNUAL GENERAL MEETING AND BOARD
OF DIRECTORS DATED 23 MAY 2017
Annual General Meeting
The ordinary General Meeting of
shareholders of Societe Generale was held on 23 May 2017 at Paris
Expo - Espace Grande Arche, La Défense, and was chaired by Mr
Lorenzo Bini Smaghi.
Quorum was established at 60.61%, vs. 56.97% in
2016:
-
802 shareholders attended the General
Meeting;
-
628 shareholders were represented;
-
7,065 shareholders voted online;
-
2,442 shareholders voted by post;
-
9,794 shareholders, including 8,388 online,
representing 0.73% of the share capital, gave proxy to the
Chairman.
All the resolutions put forward by the Board of
Directors were adopted, in particular:
-
The 2016 annual and consolidated accounts were
approved;
-
The dividend per share was set at EUR 2.20. It
shall be detached on 31 May 2017 and paid from 2 June 2017;
-
Two directors were renewed for 4 years: Mrs
Alexandra Schaapveld and Mr Jean-Bernard Lévy;
-
Two directors were appointed for 4 years: Mr
William Connelly and Mrs Lubomira Rochet;
-
The compensation policy for the chief executive
officers ("dirigeants mandataires sociaux")
was approved (new item resulting from the law dated 9 December
2016, known as "Sapin 2 Law");
-
Favourable opinions were issued on the
compensation due or awarded to the chief executive officers
(pursuant to the AFEP-MEDEF Code) as well as on the compensation
paid in 2016 to regulated persons;
-
The related party agreements and commitments
concluded in early 2017 for the benefit of the chief executive
officers - excluding the Chairman - (i.e. "non-compete clause" and
"severance pay" - as well as "pension" for Mr Didier Valet) were
approved.
The detailed
result of the votes will be available on the Company's website from
24 May 2017 under the section "Annual General Meeting".
Board of
Directors
Following the renewals and the
appointments of Directors, 50% of Board of Directors' members are
women including 5 women appointed by the General Meeting (41.6%).
The rate of independent Directors is higher than 91.6% (11/12)
according to the calculation method of the AFEP-MEDEF corporate
governance Code. The Board of Directors is composed of 14 members
including 2 Directors elected by the employees in March 2015 for 3
years:
-
Mr Lorenzo Bini Smaghi, Chairman;
-
Mr Frédéric Oudéa, Chief Executive Officer and
Director;
-
Mr Robert Castaigne, Director;
-
Mr William Connelly, Director;
-
Mrs Kyra Hazou, Director;
-
Mrs France Houssaye, Director elected by
employees;
-
Mrs Béatrice Lepagnol, Director elected by
employees;
-
Mr Jean-Bernard Lévy, Director;
-
Mrs Ana Maria Llopis Rivas, Director;
-
Mr Gérard Mestrallet, Director;
-
Mr Juan Maria Nin Genova, Director;
-
Mrs Nathalie Rachou, Director;
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Mrs Lubomira Rochet, Director and
-
Mrs Alexandra Schaapveld, Director.
The composition of the Committees
is unchanged.
Note to
editors:
Mrs
Alexandra Schaapveld, born on 5 September 1958 and of
Dutch nationality, is a graduate in Politics, Philosophy and
Economics from the University of Oxford (United Kingdom) and holds
a Master's degree in Development Economics from Erasmus University
Rotterdam (Netherlands). She began her career in the ABN AMRO Group
in the Netherlands, where she held various positions in the
Investment Banking division from 1984 to 2007, including being in
charge of the bank's major corporate clients. In 2008, she was
appointed Head of Investment Banking for Western Europe at the
Royal Bank of Scotland Group. She is an independent Director of
Societe Generale since 2013, Chairwoman of the Audit and Internal
Control Committee and member of the Risk Committee.
Mr Jean-Bernard
Lévy, born on 18 March 1955, Graduate of the École Polytechnique and Télécom Paris
Tech. From 1978 to 1986, engineer at France Télécom. From 1986
to 1988, technical advisor to the Cabinet of Gérard Longuet, Deputy
Minister for the Postal Service and Telecommunications. From 1988
to 1993, Head of Telecommunication Satellites at Matra Marconi
Space. From 1993 to 1994, Director of the Cabinet of Gérard
Longuet, French Minister for Industry, Postal Service,
Telecommunications and Foreign Trade. From 1995 to 1998, Chairman
and Chief Executive Officer of Matra Communication. From 1998 to
2002, Chief Executive Officer then Managing Partner responsible for
Corporate Finance of Oddo et Cie. Joined Vivendi in 2002 as Chief
Executive Officer. Chairman of the Management Board of Vivendi from
2005 to 2012. Chairman and Chief Executive Officer of Thalès from
2012 to 2014. Chairman and Chief Executive Officer of EDF since
November 2014. He is an independent Director of Societe Generale
since 2009, Chairman of the Compensation Committee and member of
the Nomination and Corporate Governance Committee.
Mr William
Connelly, born on 3 February 1958, graduate of Georgetown
University in Washington, USA. From 1980 to 1990, was a banker at
Chase Manhattan Bank in the United States, Spain and the United
Kingdom. From 1990 to 1999, worked at Barings then ING Barings as
Head of Mergers and Acquisitions in Spain and subsequently Head of
Corporate Finance for Western Europe. From 1999 to 2016, performed
various functions in the Investment Banking division at ING Bank
N.V. (Netherlands) and his last functions have been as Global Head
of Corporate and Investment Banking and a member of the Executive
Committee, as well as Chief Executive Officer of ING Real Estate
B.V. (an ING Bank's subsidiary). He was appointed as a member of
the Supervisory Board of Aegon N.V. (the Netherlands) by the
general meeting of the latter held on 19 May 2017.
Mrs Lubomira
Rochet, born on 8 May 1977, graduate of the Ecole Normale Supérieure and Sciences
Po in France, and of the College of Europe
in Bruges (Belgium). From 2003 to 2007, she was Head of Strategy at
Sogeti (Capgemini). From 2008 to 2010, was Head of Innovation and
Start-ups in France at Microsoft. Joined Valtech in 2010 and became
Chief Executive Officer in 2012. Since 2014, has been Chief Digital
Officer and a member of the Executive Committee of L'Oréal.
Societe Generale is one of the
largest European financial services groups. Based on a diversified
universal banking model, the Group combines financial solidity with
a strategy of sustainable growth, and aims to be the reference for
relationship banking, recognised on its markets, close to clients,
chosen for the quality and commitment of its teams.
Societe Generale has been playing
a vital role in the economy for 150 years. With more than 145,000
employees, based in 66 countries, we serve on a daily basis 31
million clients throughout the world. Societe Generale's teams
offer advice and services to individual, corporate and
institutional customers in three core businesses:
-
Retail banking in France
with the Societe Generale branch network, Credit du Nord and
Boursorama, offering a comprehensive range of multi-channel
financial services at the leading edge of digital innovation;
-
International retail banking,
insurance and financial services to corporates with a
presence in developing economies and leading specialised
businesses;
-
Corporate and investment
banking, private banking, asset management and securities
services, with recognised expertise, top international rankings
and integrated solutions.
Societe Generale is currently
included in the main sustainability indices: DJSI (World and
Europe), FSTE4Good (World and Europe), Euronext Vigeo
(World, Europe and Eurozone), Ethibel Sustainability
Index (ESI) Excellence Europe, 4 of the STOXX ESG Leaders Indices,
MSCI Low Carbon Leaders Index.
For more
information, you can follow us on twitter @societegenerale or visit our website
www.societegenerale.com
Societe Generale- PR Post Annual
General Meeting 2017
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information contained therein.
Source: Société Générale via Globenewswire
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