PARIS (dpa-AFX) - Air Liquide SA (AIQUY.PK) said that its Shareholders renewed, for a period of four years, the terms of office of Sin Leng Low, Annette Winkler, Benoît Potier and Jean-Paul Agon. Furthermore, Philippe Dubrulle was reappointed by the France Group Committee as Director representing the employees for a period of four years. The Board of Directors is thus composed of 12 members (7 men and 5 women), including 6 members. The composition of the Board offers a complementary mix of experience, nationalities and cultures, and reflects the diversity policy conducted by the Group.
Benoît Potier, Chairman and CEO, said, 'The Group's operating performance also improved in 2017, with high efficiency gains and Airgas synergies that outperformed our initial forecasts. The Group's balance sheet is strong and the high level of cash flow has enabled us to significantly reduce our debt by almost 2 billion euros. The Group has also continued with its investments, a guarantee of its future growth, notably in innovation..We are therefore a stronger and better-positioned Group going into 2018. Thanks to its committed teams, the loyalty of its customers, and the support of its shareholders, the Group is confident in its ability to create long-term value and contribute to a more sustainable world.'
In addition, the Shareholders voted in favor of the two specific resolutions concerning the remuneration of the Executive Officers for fiscal year 2017. The Shareholders also approved the principles and criteria for determining the remuneration of the Chairman and CEO. They also approved two regulated commitments relating to Mr. Benoît Potier upon the renewal of his term of office.
During its meeting following the Combined Shareholders' Meeting, the Board of Directors, on the recommendation of the Appointments and Governance Committee, renewed Mr. Benoît Potier as Chairman and Chief Executive Officer for the duration of his term of office as Director. It also renewed Mr. Jean-Paul Agon as Lead Director. Finally, during the same meeting, the Board of Directors appointed/renewed the members of its committees.
The Combined Shareholders' Meeting, chaired by Benoît Potier, the Company's Chairman and CEO, in the presence of the members of the Board of Directors, was attended by 3,569 people on Wednesday May 16, 2018, at the Palais des Congrès in Paris. The Shareholders, who represented 52.99% of voting rights, i.e., 125,755 shareholders present or represented, approved all of the resolutions that were submitted.
The proposed dividend, with an ex-date of May 28 and a payment date of May 30, 2018, was approved: it will be 2.65 euros per share (and 2.91 euros per share for Shareholders who are eligible for the loyalty bonus). This amount represents an increase of +12.4% in shareholders' return, taking into account the attribution in October 2017 of one free share for every 10 held.
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