Groupe SEB: Compensation of the Chairman and CEO and of the Chief Operating Officer
February 28 2017 - 5:32AM
Business Wire
Publication pursuant to the November 2016
AFEP-MEDEF corporate governance code of listed corporations
Regulatory News:
Groupe SEB (Paris:SK):
The Board of Directors meeting held on February 17th, 2017,
which approved the annual accounts 2016 and the budget 2017, after
considering the Nomination and Remuneration Committee’s
recommendations adopted the following decisions regarding the
compensation of its Chairman and CEO, Thierry de La Tour d’Artaise
and its Chief Operating Officer, Bertrand Neuschwander:
1) Thierry de La Tour d’Artaise, Chairman and
CEO:
The gross annual fixed compensation of Thierry de La Tour
d’Artaise adopted by the Board of Directors during the meeting held
on February 23rd, 2016, is set to €900,000 and will remain
unchanged for 2017.
The variable compensation which will be paid in 2017 for the
fiscal year 2016 amounts to €1,255,500 representing 139,5% of the
fixed compensation.
This variable compensation corresponds to the attainment of
quantitative and qualitative criteria adopted by the Board of
Directors at the beginning of each year.
The attainment of the quantitative targets is assessed in
accordance to the Group’s growth in sales and operating result from
activity.
The qualitative targets for Thierry de La Tour d’Artaise’s
individual performance were set by the Board of Directors at the
beginning of fiscal year 2016 and dealt with the sturctural
improvement of the Group’s profitabilty, the evolution of its
organization and the active pursuit of the acquisition
strategy.
2) Bertrand Neuschwander, Chief Operating
Officer:
The gross annual fixed compensation of Bertrand Neuschwander
adopted at the time of his appointement by the Board of Directors
during the meeting held on April 22nd, 2014, is set to €500,000 and
will remain unchanged for 2017.
The variable compensation paid out in 2017 for the fiscal year
2016 amounts to €556,200, representing a 111,24% of the fixed
compensation
This variable compensation corresponds to the attainment of
quantitative and qualitative criteria adopted by the Board of
Directors at the beginning of each year.
The attainment of the quantitative targets is assessed in
accordance to the Group’s growth in sales and operating result from
activity.
The qualitative targets for Bertrand Neuschwander’s individual
performance were set by the Board of Directors at the beginning of
fiscal year 2016 and dealt with the evolution of the Group's
organization, the structural improvement of the Group’s
profitabilty and the implementation of specific operational
projects.
The various compensation items granted to the Chairman and CEO
and to the Chief Operating Officer will be described in Groupe
SEB’s Registration Document.
SEB S.A.112 chemin du Moulin
Carron – CS90229 - 69134 ECULLY Cedex FranceT.+33 (0)4 72 18 18 18
• Fax +33 (0)4 72 18 16 55Société anonyme au capital de
50 169 049 € I 300 349 636 R.C.S. Lyon I T.V.A
FR 12300349636
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