Airbus SE shareholders passed all resolutions at its 2018 Annual General Meeting (AGM), including the appointment of three new independent non-executive directors to replace long-serving Board Members whose mandates expired at the close of the AGM.
Following the AGM’s approval, Victor Chu joins the Airbus Board of Directors for a term of three years. Mr. Chu, who is Chairman and Chief Executive Officer of Hong Kong-based First Eastern Investment Group and a Member of the Board of China Merchants China Direct Investments Ltd., replaces Sir John Parker.
Jean-Pierre Clamadieu, Chief Executive Officer and Member of the Board of Directors of Solvay SA and a Member of the Board of AXA SA, joins the Board and replaces Jean-Claude Trichet.
René Obermann, a Managing Director at Warburg Pincus, Member of the Board of Telenor ASA and a Member of the Supervisory Board of ThyssenKrupp AG, replaces Hans-Peter Keitel on the Board.
“This AGM marked the end of an era and the start of a new one for the Board. I’d like to thank Sir John Parker, Jean-Claude Trichet and Hans-Peter Keitel for the immense contribution they have made to the development of Airbus over many years,” said Airbus Chairman Denis Ranque. “A special mention is due for Sir John who served the Board for over a decade, latterly as Chairman of the Remuneration, Nomination and Governance Committee. The Company has truly benefitted from his insight and industrial expertise. With the arrival of Victor Chu, Jean-Pierre Clamadieu and René Obermann, the Board has the right skills set to steer Airbus into the next decade.”
The mandate of non-executive director Amparo Moraleda was renewed for three years at the meeting. Mandates of all other Board members were not subject to any decision at the AGM.
Airbus has a policy of ‘staggered’ Board terms whereby one third of the 12 directors are reappointed or replaced every year to ensure a smooth transition and to be in line with best practices. This also avoids large block replacements at any single shareholder meeting.
At a Board Meeting following the AGM, Amparo Moraleda was appointed Chair of the Remuneration, Nomination and Governance Committee (RNGC), replacing Sir John Parker. Jean-Pierre Clamadieu was appointed a Member of the RNGC as was non-executive Director Claudia Nemat who moves from the Audit Committee. Victor Chu and René Obermann were appointed Members of the Audit Committee.
The proposed 2017 dividend of € 1.50 per share was also approved at the AGM. This represents an 11 percent increase compared to 2016.