The result of the transfer of securities to Saint-Gobain announced by Wendel on 2 June, in application of the governance arrangements in force, it is expected that the representation of Wendel on the Board of directors of Saint-Gobain is reduced to a single administrator that Wendel was designated as Mr. Frédéric Lemoine.
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The Board of directors of Saint-Gobain has decided in its meeting of 5 June, on the proposal of the Committee of appointments, remunerations and governance, maintaining at the general meeting of shareholders of June 8, 2017 the proposed renewal of director’s mandate of Mr. Gilles Schnepp who was previously Wendel and, in the case of a positive vote, the qualify now as independent director.
He considered that Mr. Gilles Schnepp has a great knowledge of the group saint-gobain and contributes very usefully to the work of the Board of directors, including through its experience of the chief executive officer of a large listed group with an international dimension, his knowledge of the world of industry, and its expertise in the areas of strategy, management and finance. It was also stated that Mr. Gilles Schnepp is devoid of links of particular interest with Compagnie de Saint-Gobain including through Wendel that he no longer represents. In fact, Legrand, of which Mr. Gilles Schnepp is Chairman and managing Director, is no longer controlled by Wendel since 2011, and Wendel no longer has any stake in Legrand for 4 years. The shareholders who have already expressed by correspondence vote on the resolution concerned may, if they wish, change their vote until Wednesday, June 7, at 19 hours (see document entitled “exceptional Procedure to change vote” on the website of Saint-Gobain : https://www.saint-gobain.com/fr/finance/assemblee-generale).
ABOUT SAINT-GOBAIN
Saint-Gobain designs, produces and distributes materials and solutions designed for the well-being of each and everyone’s future. These materials can be found everywhere in our habitat and our daily life : buildings, transport, infrastructure, as well as in numerous industrial applications. They bring comfort, performance and safety while meeting the challenges of building sustainable, effective and efficient management of resources and climate change.
39.1 billion euros in sales in 2016
Present in 67 countries
More than 170 000 employees
www.saint-gobain.com
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