News Release from the Supervisory Board of Peugeot S.A.
19 März 2014 - 9:50AM
Business Wire
Regulatory News:
- At its meeting on 18 March 2013, the
Supervisory Board of Peugeot S.A. (Paris:UG) unanimously approved
the proposed resolutions presented by the Managing Board, which
will be submitted to shareholders at the Annual Meeting next 25
April.
In accordance with the information released last 19 February, a
new corporate governance structure will be put into place as a
result of the share issues that are subject to shareholder
approval. The Supervisory Board will be composed of six members
representing the key shareholders, of six independent members and
two members representing respectively employees and shareholder
employees.
The Board duly noted the resignations of Marie-Hélène Roncoroni
and of Jean-François Kondratiuk, Thierry Pilenko, Jean-Philippe
Peugeot and Jean-Louis Silvant, effective after the annual
shareholders’ meeting. The Board also took note of the resignation
of MM. Thierry Peugeot and Robert Peugeot with effect under the
same conditions; they are expected to remain on the Supervisory
Board as representatives of companies Etablissements Peugeot Frères
and FFP. Jean-Philippe Peugeot will be appointed as Censor to the
Board. In addition, Jean-Paul Parayre indicated in 2011 that he
wished to resign from office as of the 2014 Annual Meeting.
At the annual meeting, shareholders will be asked to elect as
members of the Supervisory Board two companies, Etablissements
Peugeot Frères, represented by Thierry Peugeot, and FFP,
represented by Robert Peugeot, and, Xu Ping and Liu Weidong,
respectively Chairman and Deputy General Manager of Dong Feng Motor
Corporation, and two representatives of the French State, SOGEPA
and Bruno Bézard, General Director of Public Finance.
Shareholders will also be asked to re-elect Louis Gallois to the
Board. After the annual shareholders’ meeting, it will be moved
that the Supervisory Board appoint Mr Gallois as Chairman.
Patricia Barbizet, Pamela Knapp, Dominique Reiniche, Henri
Philippe Reichstul and Geoffroy Roux de Bézieux will remain in
office, as will Anne Valleron as employee shareholder
representative.
In accordance with the new provisions of the bylaws, which will
be submitted to shareholder approval in compliance with French Act
of 14 June 2013, an employee representative to the Supervisory
Board will be designated by the European Works Council after the
Annual Meeting.
During these deliberations, the Board extended its heartfelt
thanks to Marie-Hélène Roncoroni, Jean-François Kondratiuk,
Jean-Philippe Peugeot, Thierry Pilenko and Jean-Louis Silvant for
the quality of their participation in the Board’s work. It praised
the outstanding contribution from Jean-Paul Parayre, Chairman of
the Finance and Audit since 2007.
- In addition to approving the
resolutions concerning the share issues, which will also be
submitted to a shareholder vote, the Supervisory Board unanimously
authorised the Managing Board to sign all of the binding
contractual documentation with Dong Feng, the French State,
Etablissements Peugeot Frères and FFP. These agreements are
scheduled to be signed new 26 March.
- Lastly, in light of the Group’s
results, the Supervisory Board approved the Managing Board’s
recommendation to waive the dividend with respect to 2013.
About PSA Peugeot CitroënWith its two world-renowned
brands, Peugeot and Citroën, PSA Peugeot Citroën sold 2.8
million vehicles worldwide in 2013, of which 42% outside Europe.
The second largest carmaker in Europe, PSA Peugeot Citroën recorded
sales and revenue of €54 billion in 2013. The Groupe is the
European leader in terms of CO2 emissions, with an average of 115.9
grams of CO2/km in 2013. PSA Peugeot Citroën has sales operations
in 160 countries. It is also involved in financing activities
(Banque PSA Finance) and automotive equipment (Faurecia).For more
information, please visit www.psa-peugeot-citroen.com
Communications Department, Media relations: 75
av. de la Grande Armée - 75116 ParisTelephone (33 1) 40 66 42 00 -
www.psa-peugeot-citroen.com
Peugeot S.A.Media Contact: +33 1 40 66 42 00
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