HILVERSUM, The Netherlands, March 31,
2022 /PRNewswire/ -- Universal Music Group N.V.
("UMG" or the "Company") today published its 2021 Annual Report and
the agenda for its 2022 Annual General Meeting of Shareholders
("AGM"), which is to be held on May 12,
2022, starting at 2:00 p.m.
CEST, in Amsterdam, The
Netherlands.
The agenda for the AGM and other meeting materials, including
the Annual Report, are available at
https://investors.universalmusic.com. The Annual Report has also
been filed with the Dutch Authority for the Financial Markets in
European Single Electronic Format (ESEF).
On the agenda for the AGM is the proposed appointment of four
new Non-Executive Directors. At the recommendation of the
Nomination Committee, the Board has made a non-binding nomination
for the appointment of the following (in alphabetical order):
- William A. Ackman
Non-Independent Director
Bill Ackman, 55, is an American
citizen and the CEO of Pershing Square Capital Management, L.P., an
investment firm he founded in 2003. Mr. Ackman is Chairman of The
Howard Hughes Corporation (NYSE:HHC) and Chairman and CEO of
Pershing Square Tontine Holdings, Ltd. (NYSE:PSTH), a special
purpose acquisition company. He serves as a member of the Investor
Advisory Committee on Financial Markets for the Federal Reserve
Bank of New York, and a member of
the Board of Dean's Advisors of the Harvard
Business School. He served as a director of Bausch Health
Companies Inc. from March 2016 to May
2017. Mr. Ackman is co-trustee of the Pershing Square
Foundation, a family foundation.
Mr. Ackman received an MBA from the Harvard
Business School and a Bachelor of Arts magna cum
laude from Harvard College.
- Nicole Avant
Independent Director
Nicole Avant, 54, is an American
citizen who served as the 13th U.S. Ambassador to The Bahamas after being nominated by President
Barack Obama and unanimously
confirmed by the U.S. Senate, becoming the youngest as well as the
first African American woman to hold the position.
In addition to her international diplomatic work, Ambassador Avant
brings deep commercial insight and knowledge of the media
industries. Most recently, Ambassador Avant has focused her efforts
on developing films and television and produced the critically
acclaimed and award-winning documentary, The Black Godfather
for Netflix. Directed by Reginald
Hudlin, the film charts the exceptional and unlikely rise of
her father Clarence Avant, the
ultimate mentor and behind-the-scenes rainmaker in music, film, TV,
and politics. The film was nominated for the prestigious Grierson
Documentary Award, an Emmy Award, two NAACP Image Awards and was
named one of the Top 5 Documentaries of 2019 by the National Board
of Review.
Throughout her career, Ambassador Avant has also pursued an array
of business and philanthropic ventures. Previously, she served as
Vice President of Interior Music Publishing and currently serves on
the board of Membership Collective Group, Inc., the holding company
of the Soho House social clubs.
She currently serves as a Board Trustee at Los Angeles County
Museum of Art (LACMA) and as a Director Emeritus of A Sense
of Home, and formerly served on the boards of MacAndrews &
Forbes (Revlon) and organizations including Best Buddies
International and The Bogart Pediatric Research Center. She has
served as an Academic Counselor at the Neighborhood Academic
Initiative, a daily mentorship program for high school students
sponsored by the University of Southern
California.
Ambassador Avant has been widely recognized for her diplomatic and
humanitarian work. She was honored at the 20th Annual Trumpet
Awards for her dedication to Public Diplomacy and was also
recognized with the Humanitarian Award by the Black Entertainment
Sports Lawyers Association in October
2011. A former board member of Girls Inc., she was honored
with their Women of Achievement award in 2014 and she was presented
with the Spirt of Compassion Award by UNICEF in 2018.
Ambassador Avant graduated with a Bachelor of Arts Degree in
Communications from California State
University, Northridge in 1990. She lives in Los Angeles with her husband Ted Sarandos, Co-CEO of Netflix, and is the
proud stepmother of Tony and Sarah
Sarandos.
- Cyrille Bolloré
Non-Independent Director
Cyrille Bolloré, 36, is a French citizen who serves as the Chairman
and Chief Executive Officer of Bolloré Group, a family-controlled
holding company which is among UMG's largest investors and among
the 500 largest companies in the world with focused investments in
Transportation and Logistics, Communication, Electricity Storage
and solutions.
At the Bolloré Group, he additionally serves as Chairman of the
Board of Directors of Bolloré Energy; Chairman of Bolloré Transport
& Logistics Corporate; Chairman of BlueElec; Chairman of the
Supervisory Board of Sofibol; Chairman of the Management Board of
Compagnie du Cambodge; Vice chairman of Compagnie de l'Odet; and as
a Director of Bolloré Participations; Omnium Bolloré; Blue
Solutions; Bolloré Africa Logistics; and Bolloré Logistics.
In addition, Mr. Bolloré serves as a Director on the boards of
several prominent companies, including the Supervisory Board of
Vivendi SE and Socfinasia (both since 2019), the Supervisory Board
of JC Decaux Bolloré Holding (since 2020) and, since 2013, he has
continuously served as a Director of the companies Sociéte
Industrielle et Financière de l'Artois; Financière du Champ de Mars; SFA SA;
Nord Sumatra Investissements; and Plantations des Terres
Rougers.
Mr. Bolloré is a graduate of Paris Dauphine University, and he
holds a Master's degree in economics and management, with a major
in finance.
- Sherry Lansing
Independent Director
Sherry Lansing, 77, is an American
citizen and the founder and CEO of The Sherry Lansing Foundation,
an organization dedicated to funding and raising awareness for
cancer research, health, public education, and encore career
opportunities.
Ms. Lansing has extensive knowledge regarding the creative
industries, including but not limited to audio/visual content.
During a nearly 30-year career in the motion picture business, Ms.
Lansing was involved in the production, marketing, and distribution
of more than 200 films, including Academy Award winners
Forrest Gump,
Braveheart, and Titanic. In 1980, she became the
first woman to head a major film studio when she was appointed
President of 20th Century Fox. Later, as an independent
producer, she was responsible for such successful films as Fatal
Attraction, The Accused, School Ties, Indecent
Proposal, and Black Rain. Returning to the
executive ranks in 1992, Ms. Lansing was named Chairman and CEO of
Paramount Pictures and began an unprecedented tenure that lasted
more than 12 years (1992 - 2005).
With The Sherry Lansing Foundation, she subsequently launched the
EnCorps STEM Teachers Program to transition corporate professionals
into top quality California public
school math and science teachers. Ms. Lansing also co-founded Stand
Up To Cancer to fund collaborative, multi-institutional cancer
research. She served on the University of
California Board of Regents from
1999 – 2022 and chaired the UC Health Services Committee for more
than ten years.
Ms. Lansing currently serves on the boards of the Broad Museum, the
Carter Center, the Entertainment Industry Foundation, the W.M. Keck
Foundation, the Lasker Foundation, the Pacific Council on
International Policy and Scripps Research
Institute. She is a trustee of Big Brothers Big Sisters of
Greater Los Angeles and co-founded
the Scholarship Fund. Ms. Lansing previously served on the boards
of Qualcomm (2004-2014), Dole Foods (2009-2013) and RealD
(2010-2014).
In recognition of her philanthropic endeavors, Ms. Lansing has
received the Academy of Motion Picture Arts & Science's Jean
Hersholt Humanitarian Award; induction into the National Women's
Hall of Fame; the American Association for Cancer Research Public
Service Award, the Horatio Alger Humanitarian Award; the UCLA Women
in Philanthropy Icon Award; and the Stem Cell Action Leadership
Award, among many other honors.
She graduated cum laude with a Bachelor of Science Degree
from Northwestern University in
1966.
Other items on the agenda for the AGM are shareholders'
consideration of: an advisory vote on the 2021 remuneration report;
adoption of the Company's 2021 financial statements; adoption of
the dividend proposal; discharge of the Company's directors;
establishment of the 2022 Universal Music Group Global Equity Plan;
designation of the Board as the competent body to repurchase own
shares; and re-appointment of the external auditors for the
financial year 2022.
The Company's 2021 financial statements and 2021 remuneration
report are included in the Annual Report, as is the Company's
Environment Social Governance (ESG) report, which announces UMG's
new Legacy Artists Program for qualifying recording artists and
songwriters, as well as Company initiatives on: artist welfare;
climate change; and Diversity, Equity, and Inclusion; among other
subjects.
Continuing its industry-leading tradition of artist support
programs for legacy artists, UMG has initiated a new worldwide
goodwill program for certain legacy featured recording artists and
songwriters with unrecouped balances. By not applying their
unrecouped advances to royalty statements for any period beginning
January 1, 2022, eligible creators
and their immediate heirs who have not received any payments since
January 1, 2000, will begin receiving
royalties, subject to certain conditions. UMG will contact eligible
artists and songwriters within the coming months.
The Company's artist support programs date back more than 20
years to the creation of the Motown/UMG Fund to provide financial
assistance to recording artists (and their surviving spouses) who
were affiliated with UMG or any of its wholly-owned labels for
health, welfare and medical purposes.
Cautionary Notice
This press release is published by the Company and contains
inside information within the meaning of article 7(1) of Regulation
(EU) No 596/2014 (Market Abuse Regulation).
Forward-looking
statements
This press release may contain statements that constitute
forward-looking statements with respect to UMG's financial
condition, results of operations, business, strategy and plans.
Such forward-looking statements may be identified by the use of
words such as 'profit forecast', 'expect', 'estimate', 'project',
'anticipate', 'should', 'intend', 'plan', 'probability', 'risk',
'target', 'goal', 'objective', 'will', 'endeavour', 'optimistic',
'prospects', 'outlook' and similar expressions or variations on
such expressions. Although UMG believes that such forward-looking
statements are based on reasonable assumptions, they are not
guarantees of future performance. Actual results may differ
materially from such forward-looking statements as a result of a
number of risks and uncertainties, many of which are related to
factors that are outside UMG's control, including, but not limited
to, UMG's inability to compete successfully and to identify,
attract, sign and retain successful recording artists and
songwriters, failure of streaming and subscription adoption or
revenue to grow or to grow less rapidly than anticipated, UMG's
reliance on digital service providers, UMG's inability to execute
its business strategy, the global nature of UMG's operations, UMG's
inability to protect its intellectual property and against piracy,
UMG's inability to attract and retain key personnel, changes in
laws and regulations and the other risks that will be described in
the annual report. Accordingly, UMG cautions readers against
placing undue reliance on such forward-looking statements. Such
forward-looking statements are made as of the date of this press
release. UMG disclaims any intention or obligation to provide,
update or revise any such forward-looking statements, whether as a
result of new information, future events or otherwise.
About Universal Music
Group
At Universal Music Group (EURONEXT: UMG), we exist to shape
culture through the power of artistry. UMG is the world leader in
music-based entertainment, with a broad array of businesses engaged
in recorded music, music publishing, merchandising and audiovisual
content. Featuring the most comprehensive catalogue of recordings
and songs across every musical genre, UMG identifies and develops
artists and produces and distributes the most critically acclaimed
and commercially successful music in the world. Committed to
artistry, innovation and entrepreneurship, UMG fosters the
development of services, platforms and business models in order to
broaden artistic and commercial opportunities for our artists and
create new experiences for fans. For more information on Universal
Music Group N.V., visit www.universalmusic.com.
Contacts
Media
James
Murtagh-Hopkins – communicationsnl@umusic.com
Investors
Erika Begun –
investorrelations@umusic.com
Upcoming Calendar
Q1 2022 Results: May 3, 2022
Annual General Meeting of Shareholders: May
12, 2022
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SOURCE Universal Music Group N.V.