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Changes in the membership structure of the Board of Directors


Paris, December 19, 2022

At its meeting on December 19, 2022, the Board of Directors decided to appoint Robert Peugeot as a Director in his own name. He will remain a member of the Audit and Risk Committee.
Robert Peugeot will replace F&P*, which has resigned its seat on the Board of Directors and for which he served as permanent representative.

The appointment of Robert Peugeot for the remainder of the term of office of F&P, i.e., until the end of the Annual General Meeting to be held in 2026, will be submitted for shareholder approval at the 2023 Annual General Meeting.

In addition, the Board of Directors noted the replacement of Daniel Mazaltarim (in light of his upcoming retirement) by Christèle Debarenne-Fievet as Director representing employees for the remainder of his term of office, i.e., until November 19, 2023. Christèle Debarenne-Fievet will attend the “compensation” part of Appointments and Compensation Committee meetings, replacing Daniel Mazaltarim.

The above changes have no impact on the proportion of independent Directors and of women on the Board of Directors, which remain at 69.23%** and 46.15%** respectively.

* As a reminder, F&P is a 50-50 joint venture between Fonds Stratégique de Participations (FSP) and Peugeot Invest Assets (formerly FFP Invest). Its corporate purpose is to be a member of Safran’s Board of Directors.
** In accordance with the AFEP-MEDEF Corporate Governance Code for Listed Companies and French law, Directors representing employee shareholders and Directors representing employees are not included in the calculations.

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Safran is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 76,800 employees and sales of 15,3 billion euros in 2021 and holds, alone or in partnership, world or regional leadership positions in its core markets. Safran undertakes research and development programs to maintain the environmental priorities of its R&T and innovation roadmap. 

Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.

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