Safran - AGM 23 May 2019
ITEM 4: the Company proposes to re-elect Ross McInnes, Chairman of the Board. In
2017, TCI (a UK-based fund) asked to add a resolution to the agenda so that
shareholders could be consulted on the acquisition of Zodiac. The Board of Safran
refused to add this resolution to the agenda. We consider that this refusal is a major
breach of the shareholding democracy (especially considering that it was a non-binding
consultation). As Chairman of the Board, Ross McInnes is responsible for this breach.
Thus, we do not support his re-election.
Safran designs, develops and manufactures high technology electronics through three businesses: Aerospace, Defense and Security. Aerospace includes Aerospace Propulsion (propulsion systems for commercial aircraft, military transport, training and combat aircraft, rocket engines, civil and military helicopters) and Aircraft Equipment (mechanical, hydromechanical and electromechanical equipment); Defense (optronic, avionic and electronic systems); and Security (biometric technologies for fingerprint, iris and face recognition, identity management products, access management and transaction security, including tomographic systems for detection of dangerous or illicit substances in baggage).
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