RUBIS: Change en governance following Shareholders' Meeting of 8 June 2023
June 26, 2023 at 01:32 am
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RUBIS
RUBIS: Change en governance following Shareholders' Meeting of 8 June 2023
26-Jun-2023 / 07:30 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Paris, 26 June 2023, 7.30 am
CHANGE IN GOVERNANCE
FOLLOWING SHAREHOLDERS’ MEETING OF 8 JUNE 2023
Chairmanship of the Supervisory Board and Committees’ independence
Mr Olivier Heckenroth has considered that the approval rate of the renewal of his mandate of Supervisory Board member by the Shareholders’ Meeting held on 8 June 2023 was not high enough to enable him to fulfil his mission of Chairman of the Supervisory Board. He has consequently decided to resign from the Chairmanship of the Supervisory Board and from his membership of the Accounts and Risk Monitoring Committee and of the Compensation and Appointments Committee (their independence rates being increased from 60% to 80% and from 50% to 66.67%, respectively). These decisions will come into force at the upcoming Supervisory Board meeting during which its members will appoint a new Chairperson.
Policy on annual variable compensation applicable to the Management Board in respect of financial year 2024
The General Partners, acknowledging the vote outcomes of the Shareholders’ Meeting of 8 June 2023, have decided to propose, as from financial year 2024, a change in the structure of the annual variable compensation of the Management Board to notably integrate a criterion based on the increase of the net income and an operational criterion reflecting the performance of the new Rubis Renouvelables division.
Rubis is an independent French group, operating in the energy sector for over 30 years. The activity is organized around 3 poles:
- Rubis Energie is established in Africa, the Caribbean and Europe and combines the Distribution activity and logistics in support of the Distribution activity via its Support & Services branch. The main products marketed are liquefied gases, fuels and biofuels for service stations and professionals (hotels, aviation, marine, public works, etc.) as well as bitumen;
- Rubis Renouvelables: a division created in 2022 and bringing together the activities of Photosol in France (one of the French independent leaders in large-scale photovoltaic installations as well as shading and roofing for professionals) and the partnership with HDF Energy on islands or in non-interconnected areas;
- JV Rubis Terminal specializes in the storage and handling of liquid and liquefied bulk products (fuels, biofuels, chemicals and foodstuffs) in Europe.