SCHNEIDER ELECTRIC (EPA:SU) - 2021 Annual General Meeting; approval of all resolutions approved by the Board of Directors

Transparency directive : regulatory news

29/04/2021 17:13

Financial Information

2021 Annual General Meeting; approval of all resolutions approved by the Board
of Directors

Rueil-Malmaison (France), April 29, 2021 - The ordinary and extraordinary
Annual General Meeting of Schneider Electric SE was held on April 28, 2021,
chaired by Cécile Cabanis, member of the Board of Directors specially
delegated for this purpose by the Board in accordance with article 19 of the
bylaws. Following the French Government sanitary measures related to COVID-19,
the Annual General Meeting was held behind closed doors without the physical
attendance of the shareholders, in pursuance of the governmental order
n°2020-321 of March 25, 2020, extended by the decree of March 9, 2021.
Representing a quorum of 65.60%, the shareholders adopted all the resolutions
supported by the Board of Directors, and thus approved:

* The consolidated and statutory financial statements for 2020 and the
  distribution of a dividend of EUR 2.60 per share for 2020;
* Components of the total compensation and benefits of all types paid during
  the 2020 fiscal year or awarded in respect of the said fiscal year to Mr.
  Jean-Pascal Tricoire;
* The Chairman and Chief executive officer and the Director's 2021 compensation
  policy;
* The Renewal of the term of office of Mr. Jean-Pascal Tricoire;
* The Appointment of Mrs. Anna Ohlsson-Leijon as a Director;
* The renewal of the term of office of Mrs. Xiaoyun Ma as Director representing
  the employee shareholders;
* The renewal of the financial authorizations.

Schneider Electric's Board of Directors is therefore composed of fifteen
directors, 42% of whom are women and 75% independent directors (excluding the
Director representing employee shareholders and Directors representing
employees). Following the renewal of his term of office as a director with a
support rate of 94.98%, the term of Mr. Jean-Pascal Tricoire as Chairman and
Chief Executive Officer was also renewed.

The Annual General Meeting was also the occasion for Jean-Pascal Tricoire,
Chairman and CEO, Hilary Maxson, CFO and Fred Kindle, Vice-Chairman &
Independent Lead Director, to exchange through live broadcast, to around 350
participants and to answer during the session to questions asked by
shareholders. They have presented the Group's strategy, its results in 2020 and
its future outlook, the Group's reaction to the COVID-19, as well as the key
elements of its governance.

Jean-Pascal Tricoire, connected remotely from Hong Kong, detailed the key
elements of 2020, an exceptional signature year for the Group. His presentation
focused on 4 key topics: the carried-out Transformation, the Group's
accelerating commitment in Sustainability, for its employees and People and
finishing the Group's exceptional Performance delivered in 2020. He recalled
the mission of Schneider Electric "We empower all to make the most of their
energy and resources bridging progress and sustainability for all". He
clarified how essential this mission is in this period of health and economic
crisis. It not only allows the continuity of critical infrastructures around
the world such as hospitals, Food & Beverage industry, Data Centers, Water &
Wastewater, and Residential. Additionally, through digital and remote
maintenance management applications to ensure the security of operators.
Jean-Pascal Tricoire also recalled how the two core businesses of the Group,
Energy Management and Industrial Automation, through innovation and notably
through "Green" products and digital offers developed, generate more efficiency
for the Group's customers and contribute to their sustainable development
approach. He also insisted on digital that has been essential in managing the
COVID-19 crisis, with digital management of facilities for greater resilience,
as well as an essential enabler of sustainability and efficiency.

Jean-Pascal Tricoire then explained the quadruple integration that the Group,
through EcoStruxure, provides to its customers to improve their efficiency, by
combining energy and automation, by digitizing the entire ecosystem, from
sensors to the cloud, by integrating the entire life cycle of operations from
design to maintenance and finally, by connecting all customer sites.
Jean-Pascal Tricoire also spoke about the exceptional year of acquisitions and
partnerships to prepare for the future and also to strengthen the Group's
software portfolio and the independent software partners.

The Group's entire strategy enabled Schneider Electric to approach the COVID-19
crisis with solid fundamentals built over many years and based on a unique,
integrated, multi-local, partnership and decentralized model. This strategy
also resulted in record financial and extra-financial performance in 2020.

Hilary Maxson detailed the Group's 2020 performance, demonstrating the agility
and resilience of the Group. With revenues of EUR25.2 billion and an adjusted
EBITA margin of 15.6%, Schneider Electric exceeded both internal and external
targets.

Providing a return to its shareholders remains a priority in the Group's
capital allocation strategy. Also, these results, combined with a record free
cash flow generation and a solid balance sheet, enabled the Group to maintain
its proposal to pay a dividend of EUR 2.60, up +2%.

Addressing 2021, Hilary Maxson spoke of a first quarter of growth in revenues
due to good demand dynamics in the end markets of the Group as well as most of
its segments. Given this and what the Group knows about the remaining
uncertainties, in particular the acceleration of COVID-19, Hilary Maxson, as
detailed during the presentation of the first quarter results, recalled the
Group's upgraded 2021 objectives.

Fred Kindle, Vice-Chairman & Independent Lead Director, then presented the main
information of the report on corporate governance and the work carried out by
the Board of Directors in 2020. He also presented all the resolutions submitted
to the vote of shareholders.

In order to enable a dialogue with Shareholders during the Annual Shareholders'
Meeting, the Board of Directors decided that a platform dedicated to
Shareholders will be open, during the meeting, where the shareholders will have
the opportunity to ask video question during the Q&A session. Jean-Pascal
Tricoire answered the questions, particularly two video questions related to
the Group's sustainable development consulting activity and the Group's
reaction to COVID-19.

Full results of votes, presentation and re-transmission of the AGM are
available on the company's website at the following address
www.se.com/finance

Schneider Electric's half-year results and second quarter revenues will be
released on July 30, 2021.

About Schneider Electric: Schneider's purpose is to empower all to make the
most of our energy and resources, bridging progress and sustainability for all.
We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy
technologies, end-point to cloud connecting products, controls, software and
services, across the entire lifecycle, enabling integrated company management,
for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards
and partnership ecosystems that are passionate about our shared Meaningful
Purpose, Inclusive and Empowered values.

www.se.com

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SCHNEIDER ELECTRIC (EPA:SU) - 2021 Annual General Meeting; approval of all resolutions approved by the Board of Directors

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