Solvay – AGM 12 May 2020
Resolution 2: Ilham Kadri's total compensation amounts to €5,321,151 (including compensation for loss of compensation from previous employment and relocation expenses), i.e. 195% of the median of total compensation of SBF120 executives. It should be noted that she took over the management of the Group on 1 March 2019, which corresponds to only 10 months of presence for the 2019 financial year.
Resolution 4: Concerning the allocation of the result, despite a distribution rate of 326%, this is due to the impairment of € 825 million recorded during the 2019 financial year. Even though this charge has substantially reduced the Group's share of net income, it does not affect its cash position because it is not cashable. Therefore, we do not issue an unfavorable opinion on the resolution.
It should be noted that the company proposes to its shareholders to allocate one third of the remaining dividend to be paid (i.e. EUR 0.75/share) to a solidarity fund for Solvay employees in difficulty following the Covid-19 crisis.
Solvay is engaged in chemical and plastic businesses worldwide. Co. offers chemical products such as advanced materials, barium strontium, calcium chloride, caustic soda, chlorinated products, fluor, peroxygen products, polyglycerols, precipitated calcium carbonate, soda ash, and sodium bicarbonate. It also provides specialty polymers, such as Spire ultra polymers, Solviva biomaterials, and sulfone polymers. Co. structures its activities around five operating segments: Advanced Formulations, Advanced Materials, Performance Chemicals, Functional Polymers and Corporate & Business Services, each with its own specific business model and each comprised of Global Business Units (GBUs).
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