RUBIS: Change en governance following Shareholders' Meeting of 8 June 2023

Paris, 26 June 2023, 7.30 am

 
CHANGE IN GOVERNANCE

FOLLOWING SHAREHOLDERS’ MEETING OF 8 JUNE 2023

Chairmanship of the Supervisory Board and Committees’ independence

Mr Olivier Heckenroth has considered that the approval rate of the renewal of his mandate of Supervisory Board member by the Shareholders’ Meeting held on 8 June 2023 was not high enough to enable him to fulfil his mission of Chairman of the Supervisory Board. He has consequently decided to resign from the Chairmanship of the Supervisory Board and from his membership of the Accounts and Risk Monitoring Committee and of the Compensation and Appointments Committee (their independence rates being increased from 60% to 80% and from 50% to 66.67%, respectively). These decisions will come into force at the upcoming Supervisory Board meeting during which its members will appoint a new Chairperson.

Policy on annual variable compensation applicable to the Management Board in respect of financial year 2024

The General Partners, acknowledging the vote outcomes of the Shareholders’ Meeting of 8 June 2023, have decided to propose, as from financial year 2024, a change in the structure of the annual variable compensation of the Management Board to notably integrate a criterion based on the increase of the net income and an operational criterion reflecting the performance of the new Rubis Renouvelables division.