Boulogne-Billancourt, January 10th, 2019 - During Groupe Renault’s Board of Directors’ information meeting held on January 10, 2019, Claude Baland, Senior Advisor in charge of Ethics and Compliance, and Eric Le Grand, Chief Ethics and Compliance Officer, provided a fresh update regarding the ongoing review process relating to the compensation of the members of the Groupe Renault Executive Committee.
Claude Baland and Eric Le Grand reiterated that this review process is conducted within the strict and precise framework of Groupe Renault's Compliance and Ethics procedures, and that it is carried out by internal experts from the Ethics / Compliance Department, assisted by independent external experts.
The review process has examined the compensation of the current Groupe Renault Executive Committee members for the financial years 2017 and 2018 and has concluded that it is both in compliance with applicable laws and free from any fraud.
In accordance with its initial mandate, the review process will continue with respect to previous financial years.
The foregoing will be reported in the same manner during the next Board of Directors’ meeting.
About Groupe Renault
Groupe Renault has been making cars since 1898. Today it is an international, multi-brand group combining the Renault, Dacia and Renault Samsung Motors, Alpine and LADA brands. In 2017, it sold close to 3.76 million vehicles through 12,700 outlets in 134 countries. Groupe Renault employs more than 180,000 people and operates 36 manufacturing facilities worldwide. To address the major technological challenges of the future and pursue profitable growth, Renault focuses on international development. It is harnessing complementary coverage across its five brands; electric vehicles; and its unique alliance with Nissan and Mitsubishi. With its Formula 1 team, Renault is active in motorsport as a powerful force behind innovation, image and brand recognition.
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