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Safran’s 2022 Annual General Meeting

Finance

After two years of holding meetings behind closed doors, Safran (Euronext Paris: SAF) was pleased to organise today, at the Palais des Congrès in Issy-les-Moulineaux (France), the Ordinary and Extraordinary Shareholders’ Meeting with many shareholders present physically or remotely under the chairmanship of Ross McInnes, Chairman of the Board of Directors.

The Annual General Meeting provided a unique opportunity for information, exchange and discussion with shareholders. The event was broadcast live on the 2022 Annual General Meeting section of the Company’s website and the complete recording is freely accessible to shareholders on the Group’s website.

In order to facilitate shareholders’ participation at this important information and decision-making event, in addition to the shareholders’ legal right to submit “written questions”, a dedicated module was made available on the Company’s website through which shareholders were able to ask questions prior to the Meeting.

Ross McInnes, Chairman of the Board of Directors, and Monique Cohen, Chair of the Appointments and Compensation Committee, presented subjects relating to corporate governance and corporate officers’ compensation.

Olivier Andriès, Chief Executive Officer, reviewed the 2021 highlights, the 2022 outlook and key focus in a new growth environment. He also presented the main challenges of Safran’s CSR policy and the recognized CSR performance of the Group.

Pascal Bantegnie, Chief Financial Officer, reviewed the 2021 Group’s results, the 2022 first quarter revenue and presented margin perspectives by 2025.

Patrick Pélata, Director responsible for monitoring climate issues and Chairman of the Innovation, Technology & Climate Committee and Olivier Andriès then presented Safran’s ambitious climate roadmap and targets for scopes 1, 2 and 3. The Group initiated the certification process with SBTi[1] for these objectives.

Voting results

Resolutions submitted to a vote by the Annual General Meeting were approved, notably the extension of the company’s term for a further 99 years and the payment of a dividend of €0.50 per share, to be paid as of June 2, 2022.

Shareholders thus notably approved :

  • the financial statements for the fiscal year 2021 ;
  • the re-appointment as Directors of Monique Cohen and F&P, represented by Robert Peugeot;
  • the re-appointment of the Statutory Auditors;
  • all resolutions concerning corporate officers’ compensation (2021 compensation, compensation policies for 2022, annual aggregate amount of Directors’ compensation);
  • the new authorization allowing Safran to repurchase its own shares at a price not to exceed €165 per share.

Given the approval of all resolutions concerning the Board of Directors’ composition, the number of Directors was reduced from 18 to 17, resulting in an increase in the proportion of independent Directors from 64.28% to 69.23%* and in the proportion of women in the Board from 42.86% at 46.15%*.

Following their re-appointment by the Shareholders, Monique Cohen was re-appointed as Lead Independent Director and Chair of the Appointments and Compensation Committee and Robert Peugeot as a member of the Audit and Risk Committee.

The 2022 Annual General Meeting’s voting results will be made available on the 2022 Annual General Meeting section of the Company’s website (at: https://www.safran-group.com/finance/general-meeting).

Safran will publish its 2022 half-year report on Thursday, July 28, 2022.

* In accordance with the AFEP-MEDEF Corporate Governance Code, Directors representing employee shareholders and Directors representing employees are not taken into account in these calculations.

 

[1] Science Based Target (SBTi) is an initiative of international experts that makes it possible to assess, on a scientific basis, whether the changes in greenhouse gas emissions of an economic actor are compatible with the objective of limiting the average global temperature increase to 2°C or 1.5°

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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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