BB Societe BIC SA

BIC Group - Press Release
Clichy - 17 May 2018
                
May 16, 2018 Annual General meeting and Board of Directors
Payment of 3.45 euros ordinary dividend per share
Pierre Vareille Appointed as Chairman and Gonzalve Bich as CEO

SOCIÉTÉ BIC Annual General Meeting was held on Wednesday, May 16, 2018 in Clichy (92) under the chairmanship of Bruno BICH, Chairman of the Board and Chief Executive Officer.

The Shareholders' Meeting approved the payment, from May 30, 2018, of an ordinary dividend amount of 3.45 euros per share, and all the proposed resolutions, among them:

·         the financial statements for 2017;

·         the authorizations given to the Board of Directors to undertake operations with regards to the shares of the Company (share buybacks and cancellations);

·         the renewal of John GLEN, Pierre VAREILLE, Marie-Henriette POINSOT and SOCIETE M.B.D. as Directors;

·         the appointment of Gonzalve BICH as new Director succeeding Bruno BICH;

·         the compensation elements for 2017 fiscal year of Bruno BICH, Gonzalve BICH, James DIPIETRO and Marie-Aimée BICH-DUFOUR;

·         the compensation policy for 2018 of the Chairman, Chief Executive Officer and Executive Vice-Presidents;

·         the renewal of delegations of authority to the Board of Directors to increase the share capital;

·         the renewal of authorization to be given to the Board of Directors to grant shares and stock-options of the Company to employees and Corporate Officers;

• the amendment of article 8 bis "Threshold Crossing" of the Articles of Incorporation.

The Board of Directors, held after the Shareholders' meeting, took the following decisions:

·         the separation of the functions of Chairman and of Chief Executive Officer;

·         the nomination of Pierre VAREILLE as Chairman of the Board;

·         the nomination of Gonzalve BICH as Chief Executive Officer.

The Board also decided to appoint Candace MATTHEWS as a member of the Audit Committee, replacing Pierre VAREILLE. Candace MATTHEWS remains member of the Nominations, Governance and CSR Committee but will no longer be part of the Compensation Committee.

Gonzalve BICH, age 39, French-American, is Chief Executive Officer (CEO) and Director of SOCIÉTÉ BIC. Prior to this, he served as Chief Operating Officer (COO) from January 2017 until May 2018, as well as Executive Vice-President from June 2016 to May 2018.

Gonzalve joined BIC Asia in 2003, where he developed the regional business for four years. He moved on to serve as Group People Development Director before joining the Shaver Category as Marketing Director. From 2008 to 2012, he led the Northern European BIC's business and he was then named Deputy General Manager, responsible for the Middle East, Africa, Oceania, and Asia Pacific.
He was promoted to General Manager, Developing Markets in July 2013 and took the responsibility for BIC Consumer Business Categories & Latin America operations in Spring 2016.

Pierre VAREILLE, age 60, French, is Chairman of the Board. He has served as Independent Director since 2009.  He was Vice-President and Lead Director from 2016 to May 2018, as well as a member of the Audit Committee until May 2018.
Pierre VAREILLE started his career in 1982 with Vallourec, holding various positions in manufacturing, financial control, sales and strategy. After having held general management positions at GFI Aerospace, Faurecia and Péchiney, he was from 2004 to 2008 Chief Executive Officer of the English automotive equipment manufacturer Wagon PLC. From 2008 to 2011 he served as Chairman and CEO of FCI, and from 2012 to 2016 as Chief Executive Officer of Constellium.

John GLEN, age 58, British, has been an Independent Director since 2008 and chairs the Audit Committee.
He serves as Chief Executive Officer of Buccleuch Group, the holding company of a family-owned group that operates in industry and agro-businesses.
John GLEN previously held various positions at Unilever and was Chief Financial Officer at Air Liquide from 2000 until September 2008. He was also Vice-Chairman of the Supervisory Board at the European Financial Reporting Advisory Group for four years.

Marie-Henriette POINSOT, age 57, French, has been a Director since 1997. She is a member of the Compensation Committee and of the Nominations, Governance and CSR Committee.
She was Director of Strategic Planning and a member of the Strategic Committee of the Options Group from 2006 to 2013.
Marie-Henriette POINSOT previously worked for nine years in the BIC Group, where she held different positions including Deputy Administrative Director of SOCIETE BIC.

Société M.B.D. has been a Director since 2006. Édouard BICH is a member of the Audit Committee since then.  Édouard BICH, age 53, French, is the permanent representative and Managing Director of SOCIÉTÉ M.B.D. (Marcel BICH Descendants). Before this, he spent eight years in the Finance Department of Procter & Gamble. 

For more information, please consult the corporate website: www.bicworld.com

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 and thanks to everyday efforts and investments, BIC has become one of the most recognized brands and is a trademark registered worldwide for identifying BIC products which are sold in more than 160 countries around the world. In 2017, BIC recorded Net Sales of 2,041.4 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 "Leadership Level" (A-) and "Leadership Level" for the additional "Supplier" module, Euronext Vigeo - Eurozone 120, Euronext Vigeo - Europe 120, FTSE4Good indexes, Ethibel Pioneer and Ethibel Excellence Investment Registers, Ethibel Sustainability Index (ESI) Excellence Europe, Stoxx Global ESG Leaders Index.

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