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Saint-Gobain's board proposes renewal of director's tem and Co-option of Dominique Leroy as an independent director.

M2 EQUITYBITES-November 24, 2017-Saint-Gobain's board proposes renewal of director's tem and Co-option of Dominique Leroy as an independent director

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Compagnie de Saint-Gobain SA (Paris:SGO) announced on Thursday that in preparation for the next General Shareholders' Meeting to be held on 7 June 2018, and based on the recommendation of the nomination and remuneration committee, the company's board of directors has unanimously decided at its meeting on 23 November 2017 to propose the renewal of the director's term of office of Pierre-AndrAaAaAeA@ de Chalendar for a peri of four years.

In the event that the General Shareholders' Meeting approves the renewal of his term of office, the board intends to reappoint de Chalendar as chairman and chief executive officer of Compagnie de Saint-Gobain.

At the proposal of the nomination and remuneration committee, the company's board has decided to co-opt Dominique Leroy as an independent director to replace Olivia Qiu, who resigned as director, for the remainder of her term of office, until the close of the General Shareholder's Meeting to be held to approve the 2018 financial statements.

This co-optation, which takes effect immediately, will be subject to ratification by the General Shareholders' Meeting.

Currently, Leroy is CEO of Proximus. In addition to this role and her director's term of office at Saint-Gobain, on 1 January 2018, she will also serve as an independent member of Ahold Delhaize's supervisory board.

Saint-Gobain manufactures glass products, high-performance materials and construction materials.

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Publication:M2 EquityBites (EQB)
Date:Nov 24, 2017
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