| |
At the Annual General Meeting, Faurecia’s Chairman
reports to shareholders on the Group’s business operations and significant
events of the previous year, and presents Faurecia's strategy and objectives
for the coming year.
Based on that information, the shareholders are then asked to approve the financial statements for the previous year, the proposed allocation of earnings and dividend payment, together with resolutions concerning other major issues, such as election or re-election of Directors, share buybacks, appointment or re-appointment of auditors, capital increases or reductions, grant of stock options, amendments to the by-laws, etc.
The Annual General Meeting provides shareholders with an opportunity to exercise their rights as owners of the company and to approve the management team’s actions.
Depending on the type of business to be considered, General Meetings are classified as either Ordinary or Extraordinary. The Annual General Meeting is usually a combined Ordinary and Extraordinary meeting.
An Ordinary General Meeting must be held within the first six months of each year to consider and approve the financial statements for the previous year, the Board of Directors’ management of the company and the proposed allocation of earnings.
Extraordinary General Meetings are held to consider all business which is not classified as ordinary. They may take place at the same time as the Annual General Meeting or at any other time during the year.
|
|
