Solvay invites shareholders to the 2021 Annual General Meeting
April 09 2021 - 2:30AM
Solvay invites shareholders to the 2021 Annual General Meeting
Brussels, April 9, 2021, 8.30 a.m. CEST - Solvay today announced
that it has published materials for the next General Shareholders'
Meeting, which will be held on Tuesday May 11, 2021 in Brussels, at
10.30 a.m. CEST. All documents relating to this meeting are now
available on www.solvay.com.
In view of the exceptional situation related to the coronavirus,
the Solvay General Shareholders’ Meeting will take place virtually.
The Company has taken all necessary steps to enable shareholder
interactions and questions at the meeting and has provided
registration and participation information (see below). The company
will continue to closely monitor the situation and will inform
shareholders in due course, by means of a press release and on the
company's website of any developments regarding the Shareholders’
meeting.
Agenda’s main topics submitted to shareholders’
approval
Shareholders will be asked to vote on a number of resolutions.
They include the approval of the financial statements for the
financial year 2020, the compensation report and the discharge to
be given to the Directors and the auditors.
The Board will also propose to approve a total gross dividend of
€3.75 per share. Solvay continues to execute on its value-enhancing
G.R.O.W. strategy to drive consistent, profitable growth and
increased earnings power. As the Covid-19 crisis unfolded, the
Group quickly adapted priorities to accelerate cost savings and
cash delivery, generating a record level of free cash flow and €332
million of cost savings in 2020. Further, Solvay made significant
progress towards its One Planet sustainability targets. This
performance reflects the decisive nature of the Group’s response
and the resilience and sustainability of its operating model. As a
result, the Board proposes to distribute a stable dividend compared
to 2019.
Solvay is also nominating, for shareholder approval, two new
director nominees, Dr. Wolfgang Colberg and Edouard Janssen, to
replace Amparo Moraleda and Evelyn du Monceau, whose mandates come
to an end in May 2021.
Dr. Wolfgang Colberg, who is 61 and of German nationality, is
currently Chairman of the Board of ChemicaInvest and Industrial
Partner at Deutsche Invest Capital Partners. He is a Board member
of Thyssenkrupp, Pernod Ricard and Burelle. Dr. Colberg started his
career at the Bosch group, where he held various leadership
positions in Europe and Central Asia. He was then Chief Financial
Officer at BSH, before being Chief Financial Officer of Evonik
Industries AG between 2009 and 2013. He was then an Industrial
Partner of CVC Capital Partners between 2013 and 2019. Dr. Wolfgang
Colberg holds a PhD in Business administration. Dr. Colberg will
serve as independent Director on the Board of Solvay.
Mr. Edouard Janssen, who is 42 and of Belgian nationality, is
currently an Advisory Board member of the INSEAD Hoffmann
Institute. Prior to this, Mr. Janssen spent most of his
career within Solvay (until February 2021), holding various
leadership positions in Europe and the Americas, including
Vice‐President Strategy and M&A Manager, Finance Director of
Solvin (a joint-venture between Solvay and BASF active in
ChloroVinyls in Europe and in Russia) and Vice‐President &
General Manager of the Aroma Global Business Unit for North and
Latin Americas. Mr. Janssen holds an MBA at INSEAD.
Nicolas Boël, Chairman of Solvay’s Board of Directors commented:
“On behalf of the Board of Directors, I would like to thank Ms.
Evelyn du Monceau and Ms. Amparo Moraleda for their significant
contributions. We are pleased to propose Dr. Wolfgang Colberg and
Mr. Edouard Janssen for appointment, confident that their
experiences will further enhance the Board’s effectiveness at the
service of Solvay ’s continued future development.”
Meeting information
The meeting will be broadcast via a live webcast, accessible to
all shareholders via the Lumi AGM+ platform. Shareholders are
invited to either vote by proxy before the meeting or
electronically during the meeting.
Although the webcast enables live interaction, shareholders are
strongly encouraged to submit their questions in writing prior to
the meeting, so that answers provided at the meetings can be as
comprehensive and accurate as possible. All questions can be
addressed to ag.solvay@solvay.com.
Visit the Shareholders’ Meeting dedicated page for more details
regarding the agenda, the admission conditions and voting
methods.
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