Press release: Following a court decision, Orange announces the withdrawal of the resolution due to be submitted to the AGM regarding the appointment of the employee shareholders representative to the Board of Directors
May 07 2024 - 2:47AM
Press release: Following a court decision, Orange announces the
withdrawal of the resolution due to be submitted to the AGM
regarding the appointment of the employee shareholders
representative to the Board of Directors
Press releaseParis, 7 May 2024
Following a court decision, Orange
announces the withdrawal of the resolution due to be submitted to
the AGM regarding the appointment of the employee shareholders
representative to the Board of Directors
The Board of Directors of Orange met today to
consider the implications of the decision rendered on 3 May by the
Commercial Court of Nanterre. This decision, which follows a legal
challenge by the union CFDT Orange, cancelled the second round of
the pre-consultation to designate the candidate for the Board
member representing employee shareholders.
The Court considered inter alia that the
campaign leading up to this pre-consultation was not conducted in
accordance with the standards that apply in such electoral
processes in terms of ethics and fairness. In particular, the Court
reproached the union CFE-CGC Orange, which supported the candidacy
of the leading pair after the second round, for having used
extraordinary means in favor of this candidacy, which resulted in
an influence on the vote and a manipulation of the electoral
process.
In the course of proceedings, the Court took
note of practices that it considers do not correspond to fair and
loyal debate. It therefore decided to cancel the second round of
the pre-consultation, consequently rendering null and void the
result of the vote with immediate effect.
Considering this decision, the Board of
directors has noted that resolution 7 of the Annual General Meeting
(AGM) to be held on May 22 can no longer be presented. This
resolution provided for the appointment of a Board member
representing the employee shareholders from the pair supported by
the CFE-CGC Orange. This is irrespective of the fact that the
agenda of the meeting has been published, the legal information for
shareholders and the invitation to the Annual General Meeting have
been sent, and the voting period is open.
As a result and in compliance with the
applicable rules of information and communication, resolution 7
will not be submitted to a vote at the AGM and the votes already
cast will not be counted.
The Board also instructed the Group’s management
to initiate a new procedure in order to present to a future General
Meeting of shareholders a candidate (formed of a pair including a
leading representative and a substitute) for this position.
The Board of directors regrets the inappropriate
practices highlighted by the Court in its decision and is taking
measures to resolve the situation. The Board has therefore
entrusted the Group’s management team with the objective of
preventing the persistence of such improper practices as identified
by the Court. This covers the application of accepted principles of
ethics and fairness in electoral matters, and the requirement of
equality in the means used conduct electoral campaigns.
More specifically, the stakeholders involved
will now be asked to commit themselves to ceasing any actions
during future voting processes, including all practices identified
by the Court, that could undermine the fairness of the elections
and compromise the validity of the vote.
About OrangeOrange is one of the world’s leading
telecommunications operators with revenues of 39.7 billion euros in
2023 and 129,500 employees worldwide at 31 March 2024, including
72,500 employees in France. The Group has a total customer base of
282 million customers worldwide at 31 March 2024, including 243
million mobile customers and 21 million fixed broadband customers.
The Group is present in 26 countries (including non-consolidated
countries). Orange is also a leading provider of global IT and
telecommunication services to multinational companies under the
brand Orange Business. In February 2023, the Group presented its
strategic plan "Lead the Future", built on a new business model and
guided by responsibility and efficiency. "Lead the Future"
capitalizes on network excellence to reinforce Orange's leadership
in service quality.Orange is listed on Euronext Paris (symbol ORA)
and on the New York Stock Exchange (symbol ORAN).For more
information on the internet and on your mobile: www.orange.com,
www.orange-business.com and the Orange News app or to follow us on
X: @orangegrouppr.Orange and any other Orange product or service
names included in this material are trademarks of Orange or Orange
Brand Services Limited.
Press contacts:Frédéric Texier:
fred.texier@orange.com ; +33 6 10 78 49 20Tom Wright:
tom.wright@orange.com ; +33 6 78 91 35 11
- PR_Orange_ASA_070524_ENbis
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