Safran's 2015 Annual General Meeting of Shareholders approves payment of a dividend of €1.20 per share
Board of Directors appoints Philippe Petitcolin as Chief Executive Officer, and Ross McInnes as Chairman of the Board
Paris, April 23, 2015
The combined Annual General Meeting of Shareholders of Safran (Euronext Paris: SAF) met today at the CNIT center at Paris-la Défense, under the chairmanship of Jean-Paul Herteman, Chairman and CEO of Safran.
All resolutions voted upon by the AGM were approved except resolution "A", included in the agenda on the request of a shareholder, but not endorsed by the Board of Directors, proposing the payment of a dividend limited to 1.12 euro per share.
Shareholders approved the financial statements for the fiscal year 2014 and the payment of a dividend of 1.20 euro per share.
The AGM named Philippe Petitcolin and Ross McInnes as Directors of the company, and re-appointed Jean-Lou Chameau as Director.
Shareholders approved amendments to the bylaws setting the term of Directors at four years, effective starting with the appointments made by the Annual General Meeting held today.
They also approved amendments to the bylaws designed to ensure compliance with the ordonnance (order) No. 2014-948, dated August 20, 2014 (notably concerning the governance of companies in which the French State holds a stake).
Due to the application of this ordonnance, the terms of the four state representatives on the Board of Directors came to an end, and the number of state representatives on the Board was reduced from four to three members. These three members include Astrid Milsan, appointed as a state representative by ministerial decree published today, and Patrick Gandil and Vincent Imbert, named as directors by the AGM today on the basis of a proposal by the French State.
The modified bylaws will be published on Safran's website.
During the Annual General Meeting, Jean-Marc Forneri, Chairman of the Nomination and Remuneration Committee, paid tribute to Jean-Paul Herteman, whose term as Chairman and CEO has come to an end, stating: "Safran has undergone deep changes since 2007, when Jean-Paul Herteman took the reins of the Group. On behalf of all members of the Board of Directors, as well as all Safran employees, I would like to express our very sincere thanks for his remarkable contribution to the success of this industrial champion."
The Board of Directors, meeting after the Annual General Meeting, appointed:
- Philippe Petitcolin as Chief Executive Officer;
- Ross McInnes as Chairman of the Board.
Because of changes in Safran's governance, the Board also approved changes to the Internal Rules, which will be published online in the Group's website.
The Board of Directors renewed the appointments of Astrid Milsan, state representative, and Vincent Imbert, director appointed on the basis of a proposal by the state, in the respective functions that they previously held on the Board committees.
Ex-dividend date April 27, 2015
Dividend payment as from April 29, 2015
Half-year results 2015 July 30, 2015