PARIS - Saint-Gobain, a global leader in sustainable construction, has announced proposed changes to its governance structure, including the reappointment of its CEO, Benoit Bazin, and the addition of three new independent directors. The company's Board of Directors will present these resolutions for shareholder approval at the General Shareholders' Meeting on June 5, 2025.
The renewal of Bazin's mandate as CEO is a nod to the continuity and success of the company's strategic plans, "Transform & Grow" and "Grow & Impact," which have been credited with strong financial and operational performance. Under Bazin's leadership, Saint-Gobain has seen a significant rise in its operating margin, continued share price growth, and increased employee engagement.
The proposed board appointments aim to enhance the board's independence and international experience. The new nominees are Maya Hari, CEO of Terrascope, Antoine de Saint-Affrique, CEO of Danone (LON:0KFX) (EPA:DANO), and Hans Sohlström, President and CEO of Stora Enso (OTC:SEOAY). If approved, these appointments will increase the proportion of independent directors to 93%, excluding the Chairman and CEO.
The nominees bring diverse expertise, including leadership in technology, sustainability, and international business. Hari is noted for her experience in the Asia-Pacific region and digital innovation, de Saint-Affrique brings extensive knowledge in consumer goods, CSR, and international markets, and Sohlström offers insights into the construction and materials sector and European markets.
These appointments follow the departures of Pamela Knapp, Gilles Schnepp, and Agnès Lemarchand from the board. The changes would result in a board composition of 45% women and 45% directors of foreign nationality, representing the company's global presence.
Jean-François Cirelli, Lead Independent (LON:IOG) Director, expressed confidence in Bazin and the company's direction, citing the successful transformation since 2019 and the growth of shareholder value. Bazin, in turn, voiced his gratitude for the trust placed in him and the quality of the relationship with the board and the company's teams.
The information in this article is based on a press release statement from Saint-Gobain.
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