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Société Bic — Remuneration Information 2015
Mar 11, 2015
1147_iss_2015-03-11_9d4452d3-84f3-463d-b063-a8cc97eaa397.pdf
Remuneration Information
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BIC GROUP – PRESS RELEASE CLICHY – 11 MARCH 2015
REMUNERATION OF CORPORATE OFFICERS
At a meeting chaired by Mr. Bruno Bich on Tuesday, February 10, 2015, the SOCIÉTÉ BIC Board of Directors was apprised of recommendations by the Compensation and Nomination Committee and made the following decisions:
Remuneration for financial year 2014:
Mr. Bruno Bich, Chairman:
Mr Bruno Bich received 192,000 euros as fixed remuneration and no variable remuneration.
Mr. Mario Guevara, Chief Executive Officer:
- o Variable part of the remuneration for 2014: following an examination of the allocation criteria and with respect to a target of 982,500 US dollars (739,055 euros1 ), the variable part of the 2014 remuneration for the Chief Executive Officer was set at 943,200 US dollars (709,493 euros1 ), or 96% of the target. The allocation criteria are provided in the 2014 Registration Document (to be issued).
- o Fixed part of the remuneration for 2014: the fixed part of the remuneration for the Chief Executive Officer had previously been set at 786,000 US dollars (591,244 euros1 ) for 2014.
Mr. François Bich, Executive Vice-President:
- o Variable part of the remuneration for 2014: following an examination of the allocation criteria and with respect to a target of 288,000 euros, the variable part of the 2014 remuneration for Mr François Bich was set at 345,888 euros, or 120% of the target. The allocation criteria are provided in the 2014 Registration Document (to be issued).
- o Fixed part of the remuneration 2014: the fixed part of the remuneration for Mr François Bich had previously been set at 480,000 euros for 2014.
Mrs. Marie-Aimée Bich-Dufour, Executive Vice-President :
- o Variable part of the remuneration for 2014: following an examination of the allocation criteria and with respect to a target of 130,050 euros, the variable part of the 2014 remuneration for Mrs Marie-Aimée Bich-Dufour was set at 134,876 euros, or 104% of the target. The allocation criteria are provided in the 2014 Registration Document (to be issued).
- o Fixed part of the remuneration for 2014: the fixed part of the remuneration for Mrs Marie-Aimée Bich-Dufour had previously been set at 289,000 euros for 2014.
Remuneration for financial year 2015:
The Board has set the fixed parts of the remunerations:
- 196,000 euros (+2.1% vs. 2014) for Mr Bruno Bich, Chairman;
- 810,000 US dollars (609,297 euros1 ) (+3.0 % vs. 2014) for Mr Mario Guevara, Chief Executive Officer;
- 490,000 euros (+2.1% vs. 2014) for Mr François Bich, Executive Vice-President;
- 295,000 euros (+2.1% vs 2014) for Mrs Marie-Aimée Bich-Dufour, Executive Vice-President.
The Board also sets the 2015 target for the variable part of their remuneration:
- 125% of the fixed part of the remuneration for Mr Mario Guevara, Chief Executive Officer;
- 60% of the fixed part of the remuneration for Mr François Bich, Executive Vice-President;
- 45% of the fixed part of the remuneration for Mrs Marie-Aimée Bich-Dufour, Executive Vice-President
1 Amounts in US dollars were translated into euros using the average exchange rate for 2014 (1 € = 1.3294 USD).
Free, Performance-Based Share Allocations:
Each of the following beneficiaries has been granted performance-based BIC shares:
- 22,500 shares to Mr Mario Guevara, Chief Executive Officer;
- 8,000 shares to Mr François Bich, Executive Vice-President.
- 3,250 shares to Mrs Marie-Aimée Bich-Dufour, Executive Vice-President.
The vesting period for these free shares is fixed at three years and one month. The shares will become fully vested on March 10, 2018, provided that the following two objectives are achieved: Net Sales increase and Cash Flow From Operations and Change in Inventory (CFO &I), as a percentage of net sales. If the shares vest on March 10, 2018, they will be subject to a holding period of three years during which they will be nontransferable, i.e. until March 10, 2021.
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Contacts
| Investor Relations: +33 1 45 19 52 26 | Press Contact | |
|---|---|---|
| Sophie Palliez-Capian [email protected] |
Albane de La Tour d'Artaise [email protected] |
|
| Priscille Reneaume : +33 1 53 70 74 70 [email protected] |
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| Isabelle de Segonzac : +33 1 53 70 74 70 [email protected] |
For more information, please consult the corporate web site: www.bicworld.com
2015 Agenda (all dates to be confirmed)
| 1st Quarter 2015 results | 22 April 2015 | Conference call |
|---|---|---|
| 2015 AGM | 06 May 2015 | Meeting – BIC Headquarters |
| 2nd Quarter and 1st Half 2015 results | 30 July 2015 | Conference call |
| 3rd Quarter 2015 results | 21 October 2015 | Conference call |
About BIC
BIC is a world leader in stationery, lighters, shavers and promotional products. For more than 60 years, BIC has honored the tradition of providing high-quality, affordable products to consumers everywhere. Through this unwavering dedication, BIC has become one of the most recognized brands in the world. BIC products are sold in more than 160 countries around the world. In 2014, BIC recorded Net Sales of 1,979.1 million euros. The Company is listed on "Euronext Paris" and is part of the SBF120 and CAC Mid 60 indexes. BIC is also part of the following SRI indexes: Carbon Disclosure Leadership Index (CDLI), FTSE4Good Europe, Euronext Vigeo Europe 120, Ethibel Sustainability Excellence Europe, STOXX ESG Leaders and Gaia Index.