Managing Board and Supervisory Board Press Release
PROJECT TO TRANSFORM PEUGEOT S.A. INTO A EUROPEAN COMPANY
The Managing Board and the Supervisory Board of Peugeot S.A. have decided to propose to shareholders to transform Peugeot S.A. into a European Company (Societas Europaea – SE) at the next Shareholders meeting.
This business structure, used by a growing number of companies in Europe, is recognised in all member states of the European Union. It would reflect Groupe PSA’s European scope, following the successful integration of Opel/Vauxhall.
The project to transform Peugeot S.A. into a European Company would have no impact on the governance, on operations, organisation or place of listing of Peugeot S.A., but would allow the Group to align its legal structure with its economic and social situation.
The Company’s transformation would result in a change in its legal form without reducing the current rights of shareholders or other stakeholders, and without impacting the location of the Company’s head office or its centralised management in France. The terms of the social dialogue within Peugeot S.E. will be the subject of discussions with the social partners in the coming weeks.
The transformation project will be submitted to the Peugeot S.A. Shareholders’ Annual General Meeting taking place on 14 May 2020.