BIC : Remuneration of corporate officers February 2017
21 Februar 2017 - 5:45PM
BIC Group - Press
Release
Clichy - 21 February 2017
|
REMUNERATION OF CORPORATE
OFFICERS
At a meeting chaired by Mr. Bruno
Bich on Friday, February 10, 2017, the SOCIÉTÉ BIC Board of
Directors was apprised of recommendations by the Compensation and
Nomination Committee and made the following decisions:
Remuneration for fiscal year
2016:
Mr Bruno
Bich received 200,000 euros as fixed remuneration and no variable
remuneration.
Remuneration for fiscal year
2017:
The Board has set the fixed parts of the
remunerations:
-
204,000 euros (+2% vs. 2016) for Mr Bruno Bich,
Chairman;
-
500,000 US dollars (451,998 euros1) (+25% vs.
2016) for Mr Gonzalve Bich, who has been promoted Chief Operating
Officer and Executive Vice-President;
-
515,000 US dollars
(465,558 euros1) (+3% vs.
2016) for Mr James DiPietro, Executive Vice-President;
-
300,900 euros (+2% vs 2016) for Mrs Marie-Aimée
Bich-Dufour, Executive Vice-President.
The Board also sets the 2017 target for the
variable part of their remuneration:
-
85% of the fixed part of the remuneration for Mr
Gonzalve Bich, Executive Vice-President;
-
75% of the fixed part of the remuneration for Mr
James DiPietro, Executive Vice-President;
-
45% of the fixed part of the remuneration for
Mrs Marie-Aimée Bich-Dufour, Executive Vice-President.
Performance-Based Share
Allocations:
Each of the following
beneficiaries has been granted performance-based BIC shares:
-
8,000 shares to Mr Gonzalve Bich, Executive
Vice-President;
-
8,000 shares to Mr James DiPietro, Executive
Vice-President;
-
3,250 shares to Mrs Marie-Aimée Bich-Dufour,
Executive Vice-President.
The shares will become fully
vested on March 31, 2020, provided that the following two
objectives are achieved: Net Sales increase and Cash Flow From
Operations and Change in Inventory (CFO &I), as a percentage of
net sales.
* *
*
Investor Relations: +33 1 45 19 52 26 |
Press Contacts |
Sophie
Palliez-Capian
sophie.palliez@bicworld.com |
Albane de
La Tour d'Artaise albane.delatourdartaise@bicworld.com |
Katy
Bettach
katy.bettach@bicworld.com |
Priscille
Reneaume: +33 1 53 70 74 70
preneaume@image7.fr |
For more information, please consult the corporate
website: www.bicworld.com
2017
Agenda (all dates to be confirmed)
First
quarter 2017 results |
26 April
2017 |
Conference
call |
2017
AGM |
10 May
2017 |
Meeting -
BIC Headquarters |
Second
Quarter 2017 results |
03 August
2017 |
Conference
call |
BIC is a world
leader in stationery, lighters, shavers and promotional products.
For more than 60 years, BIC has honored the tradition of providing
high-quality, affordable products to consumers everywhere. Through
this unwavering dedication, BIC has become one of the most
recognized brands in the world. BIC products are sold in more than
160 countries around the world. In 2016, BIC recorded Net Sales of
2,025.8 million euros. The Company is listed on "Euronext Paris"
and is part of the SBF120 and CAC Mid 60 indexes. BIC is also part
of the following Socially Responsible Investment indexes:
CDP's Climate A List, CDP's Supplier Climate A List, CDP Supplier
Engagement Leader Board, FTSE4Good indexes, Ethibel Sustainability
Index (ESI) Excellence Europe, Euronext Vigeo - Eurozone 120,
Euronext Vigeo - Europe 120, Stoxx Global ESG Leaders
Index.
[1] Amounts in US dollars were translated into euros using the
average exchange rate for 2016 (1 € = 1.1062 USD).
BIC_Remuneration of corporate
officers February 2017
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BIC via Globenewswire
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