Today 09/26/2016 - 05:35:18 PM
Peugeot SA 13.225€
CAC 40 4,407.85 PTS
On the subject of the supplementary pension plan set up for Philippe Varin, former Chairman of the Managing Board of PSA Peugeot Citroën, the Supervisory Board of PSA Peugeot Citroën would like to clarify that:
The conditions in which Philippe Varin is retiring are consistent with those previously announced.
Philippe Varin voluntarily waived the initial, contractual provisions of his supplementary pension plan, leaving the Supervisory Board to re-assess his entitlements.
The Supervisory Board revised the plan in early 2014, in line with AFEP-MEDEF recommendations, thereby halving his contractual entitlements.
Philippe Varin meets all of the eligibility criteria under the revised pension plan, which applies to all directors.
All of this information was published in the 2014 and 2015 Registration Documents and was the subject of a resolution on related party agreements that was approved by shareholders at the 2014 Annual Meeting. In addition, the components of Philippe Varin's compensation package were submitted to shareholders for an advisory vote in 2014 and 2015.