An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Arkema: Decision of the Board of Directors’ Meeting of 9 November 2021
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
The Board of directors of Arkema has proposed the ratification of Philippe Sauquet as an independent director at the upcoming shareholders’ meeting on 19 May 2022. Sauquet, with over 30 years at TotalEnergies, replaces Alexandre de Juniac, who resigned due to his new role at Morgan Stanley. The Board aims to enhance its expertise in chemicals and sustainable development, aligning with industry demands. This move, reflecting Arkema's strategy, emphasizes their commitment to diversifying skills and profiles.
Positive
Philippe Sauquet's extensive experience in the chemicals and energy sectors will strengthen the Board's expertise.
His background in renewable energies aligns with Arkema's sustainable development strategy.
Negative
The resignation of Alexandre de Juniac may create a gap in continuity within the Board's leadership.
The Board of directors of Arkema (Paris:AKE), on 9 November 2021, decided to propose to the next ordinary shareholders’ meeting to be held on 19 May 2022, the ratification of the cooptation of Philippe Sauquet, as independent director of Arkema.
During its meeting of 9 November 2021, the Board of directors decided unanimously to coopt Philippe Sauquet, President of KréVal, as a replacement for Alexandre de Juniac, whose resignation was accepted by the Board as a result of his new role at Morgan Stanley. His appointment will be subject to the ratification of the ordinary shareholders’ meeting to be held on 19 May 2022.
“The Board of directors is happy to welcome Philippe Sauquet. Thanks to his experience, Philippe Sauquet will complete the Board’s expertise in chemicals, in line with the regular requests of shareholders and of the Board itself. In addition, in the past ten years Philippe Sauquet has been a key person in TotalEnergies’ diversification strategy toward renewable energies and low-carbon solutions, which will enable him to contribute effectively to Arkema’s strategy in support of sustainable development,” stated Thierry Le Hénaff after the Board of directors’ meeting.
Moreover, the Board confirmed its willingness to continue completing the diversity of its profiles and skills in the future.
Philippe Sauquet is also joining the Nominating, Compensation and Governance Committee.
Philippe Sauquet has held several senior management roles within the TotalEnergies group for over 30 years and was in particular a member of the Executive committee between 2014 and 2021, President of the Gas, Renewables & Power business and President of Strategy-Innovation for the group between 2016 and 2021, as well as President of the Refining & Chemicals business between 2014 and 2016.
Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials -Adhesive solutions, Advanced Materials, and Coating Solutions- accounting for some 82% of Group sales in 2020, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around €8 billion in 2020, and operates in some 55 countries with 20,600 employees worldwide.
A French société anonyme (limited company) with share capital of €767,364,760 – Registered in Nanterre: RCS 445 074 685 Nanterre
Who is Philippe Sauquet and what is his role in Arkema?
Philippe Sauquet is the newly proposed independent director of Arkema, bringing over 30 years of experience, particularly in renewable energy and chemicals.
What is the significance of the shareholders' meeting on 19 May 2022 for Arkema?
The shareholders' meeting on 19 May 2022 is significant as it will ratify Philippe Sauquet's appointment, which aims to enhance the Board's expertise and support Arkema's strategic goals.
Why did Alexandre de Juniac resign from Arkema's Board?
Alexandre de Juniac resigned from Arkema's Board to accept a new role at Morgan Stanley.
How does Philippe Sauquet's experience benefit Arkema?
Philippe Sauquet's experience in TotalEnergies' diversification towards renewable energies will contribute to Arkema's strategy focused on sustainable materials.
What does Arkema aim to achieve by 2024?
Arkema aims to become a pure player in Specialty Materials by 2024, focusing on innovation and sustainability across its product offerings.
