Renault's Annual General Meeting, in an advisory capacity, issued a negative opinion (54,12%) on the eighth resolution regarding the elements of compensation of the Chairman and Chief Executive Officer for 2015.
Renault's Remuneration Committee and Board of Directors met, without the presence of the Chairman and Chief Executive Officer, in order to review the details of the vote expressed and to definitively deliberate on this question, in accordance with the AFEP/MEDEF Code.
Upon proposal of its Remuneration Committee, the Renault Board of Directors approved the compensation decided for the Chairman and Chief Executive Officer related to 2015.
The Board once again acknowledges the quality of the 2015 results, with revenue over €45 billion, an increase of 10.4%, and an operating margin of 5.1%, a two-year head start on the Renault 2016 Drive the Change plan’s objectives.
The Board of Directors requested the Remuneration Committee to provide proposals for the compensation structure for 2016 and subsequent years.