The Veolia group is giving itself a Purpose
At its Combined Shareholders’ Meeting, the Veolia group officially gave itself a Purpose. The Group’s Purpose was drawn up in consultation with its various stakeholders and approved by the Board of Directors, and articulates why Veolia exists and what it does and how, for the benefit of all its stakeholders. This Purpose, which is the fruit of more than 160 years of history, is in line with Veolia’s “Resourcing the World” mission statement.
The Purpose states the fundamental way in which Veolia will act. It is both the direction in which the Group is heading and a means to show the extent of its ambition and to give its actions a firmer long-term foundation. All Veolia’s stakeholders are being informed of its Purpose – whether employees, customers, suppliers, shareholders, partners or the territories where it operates – so that they know what it means and can contribute to its practical application.
Antoine Frérot, Chairman and Chief Executive Officer of Veolia, said: “At a time when many people oppose
the actions of businesses and dispute their contribution to society as a whole, I think it is necessary to recall their usefulness, starting with that of Veolia. The more our business demonstrates that it is working for all its stakeholders, the more it will be accepted and recognized.” He added: “Our business prospers because it is useful, not the other way round. Its usefulness is the source of its attractiveness for its customers and it is its usefulness which keeps its employees committed and which is the foundation of the loyalty of its shareholders, customers and partners.”
Moreover, the Combined Shareholders’ General Meeting of Veolia Environnement took place at the Maison de la Mutualité in Paris, on Thursday, April 18, 2019, under the chairmanship of Mr. Antoine Frérot, Chairman and Chief Executive Officer of the Company. At the General Meeting, shareholders approved all the resolutions 1 to
16. In particular, shareholders:
● approved the company financial statements and consolidated financial statements for fiscal year 2018;
● set the dividend in cash for the fiscal year ended on December 31, 2018 at €0.92 per share. The shares will go ex-dividend on May 14, 2019 and the dividend will be paid with effect from May 16, 2019;
● renewed the terms of office as directors of Mrs. Maryse Aulagnon, Mrs. Clara Gaymard and Mr.
Louis Schweitzer for a four-year period expiring at the end of the General Shareholders’ Meeting that will be called to approve the financial statements for the fiscal year ending December 31, 2022;
● renewed the term of office of KPMG S.A. as principal statutory auditor for a period of six financial years, expiring in 2025 at the end of the General Shareholders’ Meeting called to approve the financial statements for year ending December 31, 2024;
● approved the fixed, variable and exceptional components of total compensation and benefits of all kind paid or awarded to Mr. Antoine Frérot by virtue of his duties as Chairman and Chief Executive Officer.
● approved the principles and criteria for determining, allocating and awarding the fixed, variable and exceptional components of total compensation and benefits of all kinds that may be awarded to the Chairman and Chief Executive Officer in respect of fiscal year 2019;
1 Press release
Paris, April 18, 2019
● renewed the financial authorizations granted to the Board of Directors, in the context of the implementation of employee share ownership plans, to increase the share capital by issuing shares and/or securities reserved for the members of company savings plans on the one hand and possibly by issuing shares reserved for certain categories of persons on the other hand;
● authorized the Board of Directors to grant performance shares to employees of the Group and the corporate officers of the Company.
After this Combined Shareholders' General Meeting, Veolia Environnement's Board of Directors thus consists of thirteen directors 1 , including two directors representing employees and five women (45,45%) 2 :
● Mr. Antoine Frérot, Chairman and Chief Executive Officer;
● Mr. Louis Schweitzer, Vice-Chairman;
● Mrs. Maryse Aulagnon, Senior Independent Director;
● Mr. Jacques Aschenbroich;
● Caisse des Dépôts et Consignations, represented by Mr. Olivier Mareuse;
● Mrs. Isabelle Courville;
● Mrs. Clara Gaymard;
● Mrs. Marion Guillou;
● Mrs. Nathalie Rachou;
● Mr. Paolo Scaroni;
● Mr. Guillaume Texier;
● Mr. Franck Le Roux, Director representing employees;
● Mr. Pavel Páša, Director representing employees;
The four board committees are composed as follows:
● Accounts and Audit Committee: Mrs. Nathalie Rachou (Chairman), Mr. Jacques Aschenbroich, Mrs. Isabelle Courville, Mr. Franck Le Roux (Director representing employees) and Mr. Guillaume Texier.
● Nominations Committee: Mr. Louis Schweitzer (Chairman), Mrs. Maryse Aulagnon and Mrs. Isabelle Courville.
● Compensation Committee: Mrs. Maryse Aulagon (Chairman), Mrs. Marion Guillou, Mr. Franck Le Roux (Director representing employees) and Mr. Louis Schweitzer.
● Research, Innovation and Sustainable Development Committee: Mr. Jacques Aschenbroich (Chairman), Mrs. Isabelle Courville, Mrs. Clara Gaymard, Mrs. Marion Guillou, Mr. Pavel Páša (Director representing employees) and Mr. Guillaume Texier.
See https://www.veolia.com/en/veolia-group/finance/shareholders for the results of voting on the resolutions and a full webcast of the Combined Shareholders’ General Meeting.