Getlink – AGM 30 April 2020
In the context of the current Covid 19 crisis, the Board of Directors has decided "as a matter of prudence and in view of the general trend", not to propose the payment of the 2020 dividend in respect of the 2019 FY. In a vision of long-term responsible investment, and in the current health, economic and social context, ECGS agrees that priority should go to solvency (resolution 2).
The Board of Directors has announced the implementation, on 1 July 2020, of the separation of the roles of Chairman of the Board and CEO and the appointment of a new CEO. As part of the implementation of this new governance structure, the Board of Directors has decided to remove the role of Deputy CEO and accordingly has terminated the role of the current Deputy CEO, François Gauthey, with effect from 15 March 2020 (he will resume his employment contract as COO).
Remuneration is acceptable and the 2020 remuneration of the Chairman-CEO will be reduced by 25% for the period during which the group's employees are on short-time working. However, the remuneration of the non-executive Chairman - for the period 1 July 2020 - 31 December 2020 - appears excessive (resolution 17).
Getlink SE, formerly known as Groupe Eurotunnel SE, is a France-based company, which brings together a group of companies active in the fields of infrastructure management and transport operations. Its various entities share the attention to quality and customer service, with priority given to safety. The Company manages and operates the Channel Tunnel between the United Kingdom and France and its railway infrastructure. The Company is also engaged in the passenger and freight transport between continental Europe and the United Kingdom. In addition, it provides ferry transport through the Channel. Getlink SE has direct and indirect stakes in a number of companies, including The Channel Tunnel Group Limited, France Manche SA and Europorte SAS, among others.
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