Groupe Renault:COMMUNICATION OF RENAULT’S BOARD OF DIRECTORS 9th April 2020
PRESS RELEASE
COMMUNICATION OF RENAULT’S BOARD OF DIRECTORS
- Annual General Meeting of Shareholders to take place on June 19, 2020
- Cancellation of the dividend for the 2019 financial year
- 25% reduction in compensation for the Chairman and interim CEO
- 25% reduction in Directors' 2020 attendance fees
Boulogne-Billancourt, April 9, 2020 – Renault’s Board of Directors, meeting today under the chairmanship of Jean-Dominique Senard, has set June 19, 2020 as the date for the Annual General Meeting of Shareholders initially scheduled for April 24, 2020. The details of this General Meeting will be specified to the shareholders at a later date. The general meeting of holders of participating shares is scheduled for June 12, 2020.
In the current context linked to the coronavirus pandemic around the world and in a spirit of responsibility towards all of the Group’s stakeholders who are making efforts or are experiencing the effects of an unprecedented crisis, Renault’s Board of Directors has decided to no longer propose the distribution of a dividend at the Annual General Meeting.
In the same spirit, all the members of Renault’s Board of Directors have decided to reduce their compensation: Jean-Dominique Senard, Chairman of the Board of Directors, is reducing his compensation by 25% for at least the second quarter of 2020 and the directors have unanimously decided to reduce by 25% the amount of their attendance fees for the 2020 financial year.
The savings will be transferred to the solidarity fund set up under the Solidarity and Future Contract concluded on April 2, 2020.
Clotilde Delbos, Chief Executive Officer of Renault SA for an interim period, is also reducing her compensation by 25% for at least the second quarter of 2020.
About Groupe Renault
Groupe Renault has manufactured cars since 1898. Today it is an international multi-brand group, selling close to 3.8 million vehicles in 134 countries in 2019, with 40 manufacturing sites, 12,800 points of sales and after-sales and employing more than 180,000 people.
To address the major technological challenges of the future, while continuing to pursue its profitable growth strategy, Groupe Renault is focusing on international expansion. To this end, it is drawing on the synergies of its five brands (Renault, Dacia, Renault Samsung Motors, Alpine and LADA), electric vehicles, and its unique alliance with Nissan and Mitsubishi Motors. With a 100% Renault owned team committed to the Formula 1 World Championship since 2016, the brand is involved in motorsports, a real vector for innovation and awareness.
Contact
Astrid DE LATUDE
Corporate Press Officer
+33 (0)6 25 63 22 08
COMMUNIQUE DE PRESSE
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