REG - Compagnie St-Gobain - Governance <Origin Href="QuoteRef">SGOB.PA</Origin>

Compagnie de Saint Gobain SAAnnouncement

06/06/2017 08:50

RNS Number : 2517H
Compagnie de Saint-Gobain
06 June 2017
press release
June 5, 2017
Saint-Gobainadapts its governance following the partial withdrawal of wendel
Following the sale of Saint-Gobain shares announced by Wendel on June 2, in accordance with the existing governance agreements, the representation of Wendel at Saint-Gobain's Board of Directors shall be reduced to one single Director, designated by Wendel to be Mr.Frdric Lemoine. 
At its meeting of June 5, Saint-Gobain's Board of Directors resolved, at the proposal of the Nomination, Remuneration and Governance Committee, to maintain at the agenda of the General Shareholders' Meeting of June 8, 2017, the proposal to renew Mr.Gilles Schnepp's term of office as Director. The Board considers that Mr. Gilles Schnepp, who has previously represented Wendel would, in case of approval by the General Shareholders' Meeting, qualify as an Independent Director.
Indeed, the Board of Directors considered that Mr.Gilles Schnepp has an extensive knowledge of the Saint-Gobain Group and brings a highly valuable contribution to the Board's activities, in particular thanks to his experience as an executive officer of a major listed international group, his knowledge of the industrial sector and his expertise in terms of strategy, management and finance.
It also noted that Mr.Gilles Schnepp has no particular bonds of interest with Compagnie de Saint-Gobain, including through Wendel that he no longer represents. Mr. Gilles Schnepp is indeed Chairman and Chief Executive Officer of Legrand, which Wendel no longer controls since 2011 and from which Wendel completely withdrew 4 years ago. 
Shareholders who already cast their vote on the resolution at stake may, if they wish, amend their vote until Wednesday, June7, at 7:00 p.m. (Paris time) (see document entitled Exceptional procedure to amend vote cast  on Saint-Gobain's website: http://www.saint-gobain.com/en/finance/general-meeting). 


ABOUT SAINT-GOBAIN 
Saint-Gobain designs, manufactures and distributes materials and solutions which are key ingredients in the wellbeing of each of us and the future of all. They can be found everywhere in our living places and our daily life: in buildings, transportation, infrastructure and in many industrial applications. They provide comfort, performance and safety while addressing the challenges of sustainable construction, resource efficiency and climate change.
39.1 billion in sales in 2016
Operates in 67 countries
More than 170,000 employees
www.saint-gobain.com
@saintgobain
Analyst/Investor relations 
Media relations
Vivien Dardel 
Florent Nouveau
Floriana Michalowska
+331 47624429
+33 1 47 62 30 93
+33 1 47 62 35 98 
Susanne Trabitzsch
+33 1 47 62 43 25

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