2011 Annual General Meeting of Shareholders

The Board of Directors appoints Jean-Paul Herteman Chairman and Chief Executive Officer
Approval of a new corporate governance structure with a Board of Directors, and approval of Safran's new bylaws
Appointment of directors
Dividend payment of €0.50 per share Paris, April 21, 2011 Safran's Ordinary and Extraordinary Annual General Meeting of Shareholders was held today at L'Espace Grande Arche in Paris La Défense, under the chairmanship of Francis Mer, Chairman of the Supervisory Board. All of the resolutions submitted to shareholders at the meeting were approved by a very large majority, except resolution 38, which was rejected. This resolution, which was included in the agenda at the request of a shareholder, proposed the election of one or more directors by company employees. The Executive Board had not recommended the adoption of this resolution. Safran shareholders approved the 2010 consolidated financial statements and decided on the payment of a dividend of €0.50 per share. Shareholders also approved the change in corporate governance, now comprising a structure solely based on a Board of Directors. The Board of Directors appointed the following persons as Director:

  • Jean-Paul Herteman for a 4-year term
  • Francis Mer for a 2-year term
  • Giovanni Bisignani (independent member) for a 6-year term
  • Jean-Lou Chameau (independent member) for a 4-year term
  • Odile Desforges (independent member) for a 6-year term
  • Jean-Marc Forneri (independent member) for a 2-year term
  • Xavier Lagarde for a 6-year term
  • Michel Lucas for a 2-year term
  • Elisabeth Lulin (independent member) for a 6-year term
  • Pierre Aubouin, Christophe Burg, Laure Reinhart and Michèle Rousseau, representing the French State, for 2-year terms
  • Christian Halary and Marc Aubry, representing employee shareholders, for 5-year terms
  • Caroline Grégoire Sainte Marie as a Board advisor for a 4-year term.

All financial authorizations were approved. They represent the renewal of authorizations which were due to expire, as well as additional authorizations which are designed to enable the Group to take advantage of market opportunities in line with its strategic development goals under optimum conditions. The Board of Directors met for the first time after the Annual General Meeting of Shareholders, and made the following appointments:

  • Jean-Paul Herteman, Chairman and Chief Executive Officer
  • Francis Mer, Vice Chairman

As proposed by the Chairman and Chief Executive Officer, the Board of Directors has appointed three Deputy Chief Executive Officers for a 4-year term: Dominique-Jean Chertier, Ross McInnes, and Marc Ventre. Jean-Marc Forneri was appointed Chairman of the Audit and Risk Committee. The Board of Directors also decided to create a Nomination and Remuneration Committee, chaired by Michel Lucas and a Strategy and major projects Committee, chaired by Francis Mer. The Group's new operational organization will be implemented after consultation with employee representative bodies, convened for that purpose. Jean-Paul Herteman stated: "I am very pleased with this expression of trust by the Board of Directors after four years as Chairman of the Executive Board of Safran. I would especially like to thank Francis Mer for his commitment and for his contribution to the Group's development during his years as Chairman of the Supervisory Board." Financial agenda

  • Ex-dividend date : April 26, 2011
  • Dividend payment : From April 29, 2011
  • Q1 2011 revenues : April 28, 2011
  • H1 2011 results : July 28, 2011

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Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Safran group has more than 54,000 employees and generated sales of 10.8 billion euros in 2010. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.2 billion euros in 2010. Safran is listed on NYSE Euronext Paris and its share is part of the CAC Large 60 index.
For more information, www.safran-group.com
Press
Catherine Malek
+33 (0)1 40 60 80 28
catherine.malek@safran.fr

Investor relations
Pascal Bantegnie
+33 (0)1 40 60 80 45
pascal.bantegnie@safran.fr

Antoine-Pierre de Grammont
+33 (0)1 40 60 80 47
antoine-pierre.degrammont@safran.fr