Air Liquide – AGM 5 May 2020
ITEM 11: The Chairman and CEO's 2020 remuneration policy includes the addition of a criterion relating to carbon emissions to the performance conditions of the long-term remuneration, which ECGS welcomes, but also the addition of a retirement insurance contract supplementing the defined benefit plan whose rights are frozen. This new plan, although less costly, remains excessive and does not comply with our voting policy, as Mr. Potier is already well remunerated. The approval of this new remuneration policy would be tantamount to approval of this retirement insurance contract. Thus, since, according to ECGS, the executive is already largely well remunerated, and his top-hat pension of €639,267 per year will be sufficient and because there is no point in creating this new supplementary top-hat pension plan, we do not support resolution 11.
Global health crisis
Air Liquide's contribution in the face of the global health crisis will be saluted. Indeed, Air Liquide, PSA Group, Schneider Electric and Valeo, responding to the Government's request, have committed to produce 10,000 Air Liquide Medical Systems (ALMS) respirators between April and mid-May ().
L'Air Liquide is engaged in the market of gases for industry, health and the environment. Oxygen, nitrogen, hydrogen, and rare gases make up Co.'s core activities. Co. structures its activities in three segments: Gas and Services, Engineering and Technology, and Other activities. The Gas and Services segment comprises four business lines: Industrial Merchant, Large Industries, Healthcare and Electronics; Engineering and Technology designs, develops and builds industrial gas production plants for Co. and third parties; and the Other Activities segment develops welding and cutting edge technologies, and markets deep-sea diving and swimming equipment to professionals and privates individuals.
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