Arkema Shareholders Approve Resolutions at Annual General Meeting
On May 15, 2024, Arkema’s shareholders convened for their combined annual general meeting at the esteemed Théâtre des Sablons in Neuilly-sur-Seine. Presided over by Thierry Le Hénaff, the Chairman and Chief Executive Officer, the meeting witnessed a substantial quorum of 76.6%. Shareholders overwhelmingly endorsed the resolutions proposed by the Board of Directors, including the renewal of Thierry Le Hénaff’s directorship with a resounding majority of 90%. Key resolutions encompassed:
- Approval of 2023 Financial Statements and Dividend Distribution: Shareholders sanctioned the 2023 financial statements and endorsed a dividend payout of €3.50 per share.
- Compensation Policies: The meeting ratified the compensation policy for the Chairman and CEO, along with the specifics of compensation for the concluded fiscal year. Additionally, the compensation policy for non-executive directors, excluding the Chairman and CEO, was approved, along with disclosure pertaining to directors’ compensation in 2023.
- Financial Resolutions: Notable financial resolutions included empowering the Board of Directors to execute capital increases earmarked for participants of the company savings plan, sans preferential subscription rights.
Post-meeting, the Board of Directors unanimously reappointed Thierry Le Hénaff as Chairman and CEO for the duration of his directorial term.
Thierry Le Hénaff delivered a comprehensive review of Arkema’s robust financial performance in 2023 amid a challenging macroeconomic backdrop, emphasizing results aligning with annual projections and commendable cash flow. Marie-José Donsion, the Chief Financial Officer, elaborated on these achievements in her presentation, also shedding light on first-quarter 2024 results and outlining the year’s prospects.
The company’s evolution towards Specialty Materials was underscored, highlighted by the majority acquisition of South Korean firm PI Advanced Materials, strategic acquisitions in adhesives, advancements in next-generation batteries, and an innovation drive centered on sustainable development.
Le Hénaff seized the opportunity to unveil Arkema’s ambitious roadmap for 2028, replete with robust financial targets and underpinned by organic initiatives in pivotal high-growth sectors like electric mobility, advanced electronics, eco-efficient infrastructure, and sustainable living.
Emmanuelle Bromet, Vice-President of Sustainable Development, delineated Arkema’s endeavors in decarbonization and biodiversity conservation, while Armand Ajdari, Chief Technology Officer, showcased the company’s strides in eco-friendly transportation solutions.
Thierry Pilenko, Chairman of the Nominating, Compensation, and Corporate Governance Committee, elucidated the committee’s exhaustive evaluation of Arkema’s governance framework, particularly concerning Le Hénaff’s reappointment and the accompanying compensation strategy. He also provided insights into the company’s overarching governance principles.
Arkema’s annual general meeting thus served as a platform for robust shareholder engagement, reaffirming confidence in the company’s strategic direction and commitment to sustainable growth.
