Arkema’s Combined Ordinary and Extraordinary General Meeting, chaired by Thierry Le Hénaff, was attended by over 550 people.
The shareholders, representing 58.97% of the shares with voting rights, renewed the directors’ mandate of Messrs Thierry Le Hénaff and Jean-Pierre Seeuws for a four-year term. They also approved the 2011 financial statements, the distribution of a €1.30 dividend per share, 30% up on the previous year, and granted various financial authorizations to the Board of Directors.
At this Annual General Meeting Thierry Le Hénaff, Chairman and Chief Executive Officer, and Thierry Lemonnier, Chief Financial Officer, reported on the speeding up of the Group’s transformation, its 2011 performances, and its outlook. Last year and for the first time since the spinoff, Arkema’s EBITDA exceeded the symbolic €1 billion threshold. Thierry Le Hénaff also reviewed the new long-term objectives announced in March 2012 to achieve €8 billion sales and €1,250 million EBITDA while maintaining gearing at around 40%.
At the close of the Annual General Meeting, the Board decided to reappoint Mr Thierry Le Hénaff as Chairman and Chief Executive Officer for the duration of his term as director, and Mr Jean-Pierre Seeuws as Chairman of the Strategy Committee and member of the Audit and Accounts Committee.
The full voting results for the resolutions will be available on the website www.finance.arkema.com in the coming days.
A global chemical company and France’s leading chemicals producer, Arkema is building the future of the chemical industry every day. Deploying a responsible, innovation-based approach, we produce state-of-the-art specialty chemicals that provide customers with practical solutions to such challenges as climate change, access to drinking water, the future of energy, fossil fuel preservation and the need for lighter materials. With operations in more than 40 countries, some 13,200 employees and 9 research centers, Arkema generates annual revenue of approximately €5.9 billion*, and holds leadership positions in all its markets with a portfolio of internationally recognized brands. The world is our inspiration.
*Sales and headcount for continuing activities at end 2011, excluding vinyl products activities, which are part of a divestment plan.