Outcome of the 2022 Shareholders' Meeting
Resounding endorsement of steps that further strengthen governance with two new independent directors and a revised remuneration policy.
Brussels, May 10, 2022
Solvay today held its Ordinary General Shareholders' Meeting in Brussels. Shareholders voted in favor of all the resolutions proposed.
Nicolas Boël, Chairman of the Board, highlighted to shareholders the successes achieved in 2021, the rationale of the separation plan, and the strengthened governance of the company. Ilham Kadri, CEO, celebrated Solvay's people who drove the remarkable progress on the company's growth and sustainability ambitions, achieving many performance records and delivering the mid-term plan three years ahead of time.
Strong support from Solvay shareholders was evidenced by high levels of approvals for all resolutions and more specifically:
- the payment of a gross dividend (https://www.solvay.com/en/investors/share-information/dividend) of €3.85 per share for the year 2021. After deduction of the interim dividend of €1.50 gross per share, paid in January 2022, the balance amounts to €2.35 gross per share (after deduction of 30% of withholding tax) will be paid on May 19, 2022.
- The appointment of two new independent Board members (https://www.solvay.com/en/investors/corporate-governance), Ms. Laurence Debroux and Mr. Pierre Gurdjian for a four-year term. The additions of Ms. Debroux and Mr. Gurdjian will strengthen the Board's financial and governance expertise while enhancing the diversity of the Board.
- The re-election of Mr. Gilles Michel and Mr. Matti Lievonen for a four-year term mandate, and the re-election of Ms. Rosemary Thorne for a one-year term mandate to ensure the smooth transition of the Board duties, particularly her role as Chair of the Audit Committee.
- The remuneration report with a higher approval percentage than last year
- The new remuneration policy, which focuses on meritocracy and performance and maximizing returns in a responsible and sustainable way, aligns more with financial and non-financial delivery, and includes Total Shareholder Returns. It is strongly aligned with market practices, the strategy of the Group as well as the feedback, interests and expectations of the key stakeholders.
- The appointment of the new statutory auditor Ernst & Young.
Nicolas Boël, Chairman of the Board: "I'm very proud of the new steps we are taking as a company, both in the short-term and on the long-term strategy, and with our ambitious ESG roadmap. And I'm particularly happy with the further strengthening of our Board, which now counts two-thirds of independent directors, seven nationalities and close to 50% of women".
Details of the votes and the presentations of the Chairman and of the CEO are now available on Solvay's website, in the Investors section.
Attachment
- PR Outcome of the 2022 Shareholders' Meeting (https://ml-eu.globenewswire.com/Resource/Download/53f3aa3b-b222-4808-98ef-50987befccbc)
