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Faurecia’s combined General Meeting of may 30th , 2023 - all resolutions adopted

Faurecia’s combined general meeting was held today at the Group’s headquarters under the chairmanship of Michel de Rosen. All resolutions were adopted.

Evolution in the composition of the Board of Directors

Shareholders approved the following resolutions :

  • Renewal of the term of office of Denis Mercier, for a period of four years;
  • Appointment of Esther Gaide and Dr. Michael Bolle as independent Board members, for a period of four years.

Following the general meeting, the Board of Directors of the Company is composed of 14 members, of whom 75% are independent directors and 42% women (excluding employee representatives).

Change of corporate name

The shareholders adopted by a very large majority, with more than 99.81% of the votes cast, the change of the Company's name from Faurecia SE to FORVIA SE. This change, which comes one year after the completion of the acquisition of a majority stake in HELLA, represents a further important step in the creation of the combined Group.

2022 Results and perspectives confirmation

During this general meeting, Patrick Koller, Chief Executive Officer, and Olivier Durand, Chief Financial Officer, commented on the 2022 results in detail. They also confirmed the financial objectives for 2023, as they were announced on February 20th, 2023, with the publication of the 2022 annual results and stated that the Group is perfectly aligned with the “POWER25” plan and the associated financial objectives for 2025 as they were presented during the Capital Markets Day on November 3rd, 2022. The three priorities of this plan are, firstly, to reduce debt following the acquisition of the majority stake in HELLA, secondly, to realize the synergies made possible by this acquisition, and thirdly to pursue sustainable growth that creates value for all our stakeholders.

The full broadcast of the meeting, the presentation shown and the results of votes on the resolutions are available on Faurecia’s website.

Michel de Rosen, Chairman of the Board of directors of FORVIA stated: "First of all, I would like to thank all our shareholders for their support, which was demonstrated today by the approval of all the resolutions presented at this General Meeting. I would like to also express my sincere welcome to our two new directors, Esther Gaide and Michael Bolle, who will bring to our Board their recognized skills in finance and technology respectively.  My warmest thanks to Yan Mei and Peter Mertens for their valuable contributions to the work of the Board during their terms of office. This General Meeting has also marked a new stage in the development of the FORVIA Group, with the approval of the change of name of the parent company. This decision by our shareholders is in line with FORVIA's founding strategy: to be strongly positioned to grow and benefit from the major factors transforming the automotive industry. We can be collectively proud of what we have achieved in just one year, as demonstrated by the world firsts presented at the Consumer Electronic Show and the Shanghai Autoshow. This technological expertise has also enabled us to embark on an ambitious decarbonization path, scientifically validated by the Science Based Target initiative (SBTi). FORVIA is the first company in the automotive industry to obtain this certification. This confirms FORVIA is a strong group, focused on sustainable and affordable mobility, and on creating value for all its stakeholders.”

Upcoming events :

July 27th, 2023 : announcement of H1 results 2023 (before market opening)

October 20th, 2023 : announcement of Q3 sales 2023 (before market opening)

Faurecia’s combined General Meeting of may 30th , 2023 - all resolutions adopted

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