Groupe SEB: Compensation of the Chairman and CEO and of the Chief Operating Officer

Publication pursuant to the November 2016 AFEP-MEDEF corporate governance code of listed corporations

ECULLY, France--()--Regulatory News:

Groupe SEB (Paris:SK) :

The Board of Directors meeting held on February 27th, 2018, which approved the 2017 annual accounts and the 2018 budget, after considering the Nomination and Remuneration Committee’s recommendations adopted the following decisions regarding the compensation of its Chairman and CEO, Thierry de La Tour d’Artaise and its Chief Operating Officer, Bertrand Neuschwander:

1) Thierry de La Tour d’Artaise, Chairman and CEO:

  • Fixed compensation 2018

    The gross annual fixed compensation of Thierry de La Tour d’Artaise adopted by the Board of Directors during the meeting held on February 23rd, 2016, is set to €900,000 and will remain unchanged for 2018.
  • Variable compensation

    The variable compensation which should be paid in 2018 for 2017 the fiscal year, after being approved by shareholders during the Annual General Meeting on 16 May 2018 in accordance with the ex-post voting principle, amounts to €1,214,100 representing 134.9% of the fixed compensation.

    This variable compensation corresponds to the attainment of quantitative and qualitative criteria adopted by the Board of Directors at the beginning of each year.

    The attainment of the quantitative targets is assessed in accordance with the Group’s growth in sales and operating result from activity.

    The qualitative targets for Thierry de La Tour d’Artaise’s individual performance were set by the Board of Directors at the beginning of 2017 fiscal year and dealt with the structural improvement of the Group’s profitability, the evolution of its organization and the active pursuit of the acquisition strategy.

2) Bertrand Neuschwander, Chief Operating Officer:

  • Fixed compensation 2018

    The gross annual fixed compensation of Bertrand Neuschwander adopted at the time of his appointment by the Board of Directors during the meeting held on April 22nd, 2014, is set to €500,000 and will remain unchanged for 2018.
  • Variable compensation

    The variable compensation which should be paid in 2018 for the 2017 fiscal year, after being approved by shareholders during the Annual General Meeting on 16 May 2018 in accordance with the ex-post voting principle, amounts to €534,600, representing 106.9% of the fixed compensation.

    This variable compensation corresponds to the attainment of quantitative and qualitative criteria adopted by the Board of Directors at the beginning of each year.

    The attainment of the quantitative targets is assessed in accordance with the Group’s growth in sales and operating result from activity.

    The qualitative targets for Bertrand Neuschwander’s individual performance were set by the Board of Directors at the beginning of 2017 fiscal year and dealt with the evolution of the Group's organization, the structural improvement of the Group’s profitability and the implementation of specific operational projects.

    The various compensation items granted to the Chairman and CEO and to the Chief Operating Officer are described in Groupe SEB’s 2017 Registration Document.

Contacts

Groupe SEB

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Contacts

Groupe SEB