ag 2020

Share
Catégorie
Group

Faurecia shareholders’ meeting renewal of mandates of three board members and the Chairman of the board of Directors

Chapô
At the Faurecia Shareholders’ Meeting, which was held today behind closed doors and chaired by Michel de Rosen, all the proposed resolutions were adopted.
Choix du type d'actualité
Contenu de l'article
Texte

In particular, the Shareholders’ Meeting approved the renewal of the Board membership of Odile Desforges, Linda Hasenfratz, Olivia Larmaraud and Michel de Rosen for a further period of four years. The renewal of Michel de Rosen's term as Chairman of the Board of Directors therefore took effect at the end of the Meeting, as decided by the Board.

During this Shareholders’ Meeting, Chief Executive Officer Patrick Koller reviewed Faurecia's transformation strategy and the results achieved in 2019. He also presented to shareholders the Group’s three priorities for weathering the Covid-19 crisis: the safe restart of operations; protecting liquidity and maintaining a healthy financial structure; increasing the Group's resilience and lowering the break-even point of its operations. This will enable the Group to address the current crisis and benefit from the expected recovery from 2021.

Patrick Koller finally explained the expected evolution of the Group’s turnover during the first part of the year, particularly affected by Covid-19. After a first quarter fall of 19.7% , the second quarter will suffer the most this year, with an expected decline of around 50%1 with a low point in April, a month severely affected by the lockdowns in Europe and North America, at a time when China was only just beginning its recovery. Sales for the full six-month period could fall by around 35%1 (compared with turnover of €8,972 million in the first half of 2019).

Faurecia will present its outlook for the second half of the year with publication of the first-half results on Monday 27 July.

Citation

I would like to warmly thank the shareholders for the renewed confidence they have shown today in the Group's management. Thanks to its solid fundamentals and the strong resilience measures adopted, Faurecia intends to pursue its transformation strategy and come through this unprecedented crisis with determination and agility.

Auteur
Michel de Rosen
Fonction de l'auteur
Chairman of the Board of Directors of Faurecia
Texte

Upcoming events:

  • 27 July 2020: announcement of HY1 2020 results (before market opening)
  • 23 October 2020: announcement of Q3 2020 sales (before market opening)
Related content
Date
Fichier
Date
Fichier
Slideshow2.83 MB
Media relations contact
You can reach our press office by using the contact form below:
Contact request
For any question regarding our protection and security of personal data policy, please check the following page: https://www.faurecia.com/en/legal-statements
Analysts and investors contact
Marc Maillet
& Sébastien Leroy
Department of Investor Relations
Contact request
For any question regarding our protection and security of personal data policy, please check the following page: https://www.faurecia.com/en/legal-statements
Sustainability contact
Remi Daudin
& Isabelle Cornu
Sustainability Department
Contact request
For any question regarding our protection and security of personal data policy, please check the following page: https://www.faurecia.com/en/legal-statements
Don’t miss out
Create an email alert
Sign-up to get notified of any publication posted on this website
Create an email alert
You are interested in:
For any question regarding our protection and security of personal data policy, please check the following page: https://www.faurecia.com/en/legal-statements
Email alert
  • Follow us
  • Follow us
  • Follow us