BIC: Annual General Meeting and Board of Directors on May 19, 2021
20 Mai 2021 - 8:36AM
BIC: Annual General Meeting and Board of Directors on May 19, 2021
FOR
IMMEDIATE RELEASE
May 19,
2021 SOCIÉTÉ BIC
Annual General Meetingand Board of
DirectorsPayment of 1.80 euros ordinary dividend per
share
Clichy, France, May
20,
2021 – SOCIÉTÉ BIC's Annual
General Meeting was held on Wednesday, May 19, 2021, in Paris,
behind closed doors and broadcasted live in video format to protect
the health and safety of all stakeholders due to the ongoing
pandemic. A replay of the event and presentations are available on
BIC's website. Chaired by Pierre Vareille,
Chairman of the Board, the meeting was also attended in person by
Gonzalve Bich, Chief Executive Officer and
John Glen, Director. All other
Board members attended via video conference.
All the proposed resolutions
were approved and included
the following:
Ordinary
Shareholders'
meeting
- approval of the Financial Statements
for 2020;
- payment of a 1.80 euros ordinary
dividend per share;
- authorization to be given to the
Board of Directors to undertake operations with regards to the
shares of the Company (share buyback and cancellation);
- renewal of the appointments as
Directors of Marie-Aimée Bich-Dufour, John Glen (for a term of one
year), and of the company M.B.D. represented by Edouard Bich;
- compensation elements to the
Corporate Officers for the 2020 fiscal year;
- compensation policy of Corporate
Officers for the 2021 fiscal year;
Extraordinary
Shareholders'
meeting
- authorization to be given to the
Board of Directors to reduce the share capital by cancellation of
shares acquired in accordance with Article L. 22-10-62 of the
French Commercial Code;
- authorization to be given to the
Board of Directors to proceed with restricted stock awards to
employees and Corporate Officers by granting existing shares and/or
shares to be issued;
- authorization to be given to the
Board of Directors to grant stock options and/or stock purchase
options;
- delegation of authority to the Board
of Directors to carry out a capital increase by issuing shares or
securities giving access to the capital, reserved for participants
in a company stock ownership plan.
The Board of Directors met after the
Shareholders' Meeting and appointed John Glen as interim
non-Executive Chair of the Board and Elizabeth Bastoni as Interim
Independent Lead-Director. The recruitment of a new Independent
Non-Executive Chair remains underway. John Glen and Elizabeth
Bastoni will serve until the Annual General Meeting approving BIC's
2021 Financial Statements. The Board also renewed the mandates of
Marie-Aimée Bich-Dufour on the Nominations, Governance and C.S.R.
Committee and M.B.D. represented by Edouard Bich on the Audit
Committee.
The Board of Directors has decided to implement a stock option
plan for a limited number of senior executives, aimed at ensuring
the execution of the Horizon strategic plan and aligning the
interests of all stakeholders. The "Achieving Horizon" plan is
based on two performance conditions over five fiscal years
("vesting" at the publication of the 2025 results). The targets are
linked to Net Sales and adjusted EBIT for the fiscal year 2025 and
are consistent with the objectives published in the November 10,
2020's press release "BIC launches its Horizon strategic plan." The
related results will be detailed in the Ex Post resolution voted by
the Annual General Meeting, which will validate the financial
statements for the year 2025.
The grant was made based on a strike price of €65 corresponding
to the average share price over the previous 20 days plus a premium
of 8.1%. Mr. Gonzalve Bich was granted 300,000 options under this
plan for an IFRS value of €2,262,000.
In addition, using the authorization granted by the Annual
General Meeting, the Group will set up a free shares' distribution
plan for BIC's employees during the fourth quarter of 2021. The
objective is to involve all team members in the success of the
Horizon plan.
MARIE-AIMÉE
BICH-DUFOUR -
DIRECTOR
|
Marie-Aimée
Bich-Dufour is Director of SOCIÉTÉ BIC since May 22, 2019. Until
October 1, 2020, she was Delegate for general affairs and President
of the BIC Corporate Foundation for Education. From March 22, 1995
to March 31, 2019, she was Executive Vice-President of SOCIÉTÉ BIC
and Board of Directors' Secretary.She was Group General Counsel
until February 1, 2016.She was responsible of BIC's Sustainable
Development program between 2004 and 2018. Before joining BIC
Group, Marie-Aimée served 12 years as a Lawyer at the Paris' bar.
She holds a Master's degree in Private Law from Paris
Panthéon-Assas University and a Professional Lawyer's Certificate
(CAPA). |
JOHN GLEN - DIRECTOR
|
John Glen is Chief
Operating Officer of DC Thomson and a Director of SOCIÉTÉ BIC since
May 14, 2009. He was Chief Executive Officer of Buccleuch, the
holding company of a family-owned group that operates in industry
and agro-business from November 2008 to March 2019. He continued to
develop and commercialize a portfolio of major energy projects in
sustainable technologies, on the Buccleuch family's lands until
December 2019. He has previously held various positions at Unilever
and was Group Finance Director of Air Liquide (listed company) from
2000 to September 2008 and Vice-Chairman of the Supervisory Board
of EFRAG (European Financial Reporting Advisory Group) for four
years. John Glen is a member of the Chartered Institute of
Certified Accountants and graduated with a Master's degree in
Accounting and Economics from the University of Edinburgh.
|
SOCIÉTÉ M.B.D. represented by
EDOUARD BICH -
DIRECTOR
|
Edouard Bich
is Managing Director of SOCIÉTÉ M.B.D., and Director of SOCIÉTÉ BIC
since May 24, 2006. He is also a member of the Audit Committee of
BIC. Mr. Bich spent eight years in the Finance Department of
Procter & Gamble - France and holds an M.B.A. from The Wharton
School (U.S.A.), specializing in Finance. |
***ABOUT BIC
A world leader in stationery, lighters and shavers, BIC brings
simplicity and joy to everyday life. For more than 75 years, the
Company has honored the tradition of providing high-quality,
affordable, essential 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 BIC Kids™, BIC FlexTM, BodyMark
by BICTM, Cello®, Djeep, Lucky Stationery, Rocketbook, Soleil®,
Tipp-Ex®, Us. TM, Wite-Out® and more. In 2020, BIC Net Sales were
1,627.9 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.bic.com or follow us on LinkedIn, Instagram, Twitter, or
YouTube.
Contact
Sophie Palliez-CapianVP, Corporate Stakeholder Engagement+33 1
45 19 55 28+ 33 87 89 3351Sophie.palliez@bicworld.com
Michèle VenturaSenior Manager, Investor Relations+ 33 1 45 19 52
98Michele.ventura@bicworld.com
Albane de La Tour d’Artaise Senior Manager, Institutional Press
Relations+ 33 1 45 19 51 51+ 33 7 85 88 19 48
Albane.DeLaTourDArtaise@bicworld.com
Isabelle de Segonzac Image 7+ 33 6 89 87 61
39isegonzac@image7.fr
2021 AGENDA
ALL DATES TO BE CONFIRMED
First Half 2021 Results |
July 28,
2021 |
3rd Quarter 2021 Results |
October 26,
2021 |
- BIC_Press Release AGM of 19 May 2021
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