BIC: Corporate Officers' Compensation
06 April 2020 - 6:45PM
BIC: Corporate Officers' Compensation
FOR IMMEDIATE
RELEASE
Compensation of Corporate
Officers in accordance with Afep-Medef code
of Corporate Governance for listed companies
[Clichy, France – April 6,
2020–] At a meeting chaired by Pierre Vareille on February
11, 2020, the Board of Directors of SOCIÉTÉ BIC took the following
decisions, based on the recommendations of the Remuneration
Committee and in accordance with the compensation policy approved
by the Annual General Meeting held on 22 May, 2019:
Compensation for 2019:
- Pierre Vareille, Chairman of the Board:
- An annual fixed compensation of 300,000 euros was granted to
Pierre Vareille, Chairman of the Board.
- Gonzalve Bich, Chief Executive Officer:
- Fixed compensation for 2019: the annual fixed part of the
compensation for Gonzalve Bich as Chief Operating Officer was set
at 735,008 US dollars (656,492 euros1).
- Variable compensation for 2019: following an examination of the
allocation criteria and with respect to a target of 918,750 US
dollars (820,606 euros1), the variable part of the 2019
compensation for Gonzalve Bich was set at 798,431 US dollars
(713,140 euros1), which corresponds to 86.9% of the target. The
allocation criteria are detailed in the 2019 Universal Registration
Document (https://www.bicworld.com/en ).
- James DiPietro, Executive Vice-President:
- Fixed compensation for 2019: the annual fixed part of the
compensation for James DiPietro was set at 572,853 US dollars
(511,658 euros1).
- Variable compensation for 2019: following an examination of the
allocation criteria and with respect to a target of 429,640
US dollars (383,744 euros1), the variable part of the 2019
compensation for James DiPietro was set at 321,800 US dollars
(287,424 euros1), which corresponds to 74.9% of the target.
The allocation criteria are detailed in the 2019 Universal
Registration Document (https://www.bicworld.com/en ).
- Marie-Aimée Bich-Dufour, Executive
Vice-President:
- Fixed compensation for 2019: the fixed part of the compensation
for Marie-Aimée Bich-Dufour as Executive Vice-President until 31
March 2019 was 50,000 euros.
Under the provisions of Article L. 225-100 of
the French Commercial Code, the payment of the variable
compensation is contingent on a positive vote of the Annual General
Meeting of May 20, 2020.
Compensation for 2020 :
The Board set the 2020 fixed part of the
compensation as follows:
- 300,000 euros (unchanged vs. 2019) for Pierre Vareille,
Chairman of the Board;
- 770,000 US dollars (687,746 euros1) (+4.8% vs. 2019) for
Gonzalve Bich, Chief Executive Officer. The Remuneration Committee
recommended this increase based on the CEO’s performance and
experience in role in addition to market data ;
- 584,000 US dollars (512,615 euros1) (+1.95% vs.
2019) for James DiPietro, Executive Vice-President;
The Board also set the 2020 target for the
variable part of their compensation as follows:
- 125% of the fixed part of the compensation for Gonzalve Bich,
Executive Vice-President;
- 75% of the fixed part of the compensation for James DiPietro,
Executive Vice-President;
- No variable compensation for Pierre Vareille, Chairman.
ABOUT BIC
BIC is a world leader in stationery, lighters
and shavers. For more than 75 years, the Company 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 and is a trademark
registered worldwide. Today, BIC® products are sold in more than
160 countries around the world and feature iconic brands such as
Cello®, Conté®, BIC FlexTM, Lucky Stationery, Made For YOUTM,
Soleil®, Tipp-Ex®, Wite-Out® and more. In 2019, BIC Net Sales were
1,949.4 million euros. The Company is listed on “Euronext Paris,”
is part of the SBF120 and CAC Mid 60 indexes and is recognized for
its commitment to sustainable development and education. It
received an A- Leadership score from CDP. For more, visit
www.bicworld.com or follow us on LinkedIn, Instagram, Twitter, or
YouTube.
CONTACTS
Sophie Palliez-Capian – VP, Corporate Stakeholder
Engagement - sophie.palliez@bicworld.com |
Investor Relations Contact: + 33 1 45 19 52
98 |
Press Contacts |
Michèle Ventura michele.ventura@bicworld.com |
Albane de La Tour d’Artaise +33 1 45 19 51 51
Albane.DeLaTourDArtaise@bicworld.com |
|
Isabelle de Segonzac : +33 1 53 70 74 85 isegonzac@image7.fr |
2020 AGENDA – ALL DATES TO BE
CONFIRMED
First Quarter 2020 results |
23 April 2020 |
Conference call and Webcast |
2020 AGM |
20 May 2020 |
To be determined |
First Half 2020 results |
29 July 2020 |
Conference call and Webcast |
Third Quarter 2020 results |
28 October 2020 |
Conference call and Webcast |
1 Amounts in US dollars were translated into euros using the
average exchange rate for 2019 (1 € = 1.1156 USD).
- 2020 04 06 _ BIC Press Release_ Compensation of corporate
officers
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