Peugeot: Press Release Supervisory Board
Peugeot: Press Release Supervisory Board Business Wire PARIS -- October 24, 2012 Regulatory News: At its meeting on 23 October 2012, the Supervisory Board of Peugeot S.A. (Paris:UG) positively welcomed the announcement concerning Banque PSA Finance’s financing by the Group’s partner banks and the French State. In this context, it was decided that for as long as the State guarantee is in effect, no dividends will be paid, no shares will be bought back and neither stock options nor performance shares will be granted to members of the Managing Board. In addition, to further involve employees in the Group’s governance, the Supervisory Board decided to initiate the process of having shareholders at the Annual Meeting elect an employee representative to the Supervisory Board. The Supervisory Board also expressed its intention to pursue the dynamic already underway to renew its membership and elect more women, in particular by nominating a new independent member. This new member should become member of the Strategic Committee and lead independent member of the Supervisory Board and play an important role in the group’s governance. At the next shareholders meeting, the shareholders will convene to vote on the appointment of independent members to the Supervisory Board of Peugeot SA. Contact: Peugeot S.A.