ANNUAL GENERAL MEETING, 20 MAY 2014 “A new phase of development until 2016” The Annual General Meeting held on 20 May in La Défense was attended by 766 shareholders. Quorum was met at 58.27%. More than 69% of advance votes were cast online. LETTER TO SHAREHOLDERS_2014 | 5 In the Group’s 150th anniversary year, Frédéric Oudéa began by saluting all those who had contributed to its history, before setting out the strategy for 2016. He recognised the good work of Jean-François Sammarcelli, Deputy Chief Executive for French Retail Banking, who will be retiring this year after a career stretching back 40 years. Séverin Cabannes, Deputy Chief Executive, presented the results for 2013 and Q1 2014. Anthony Wyand, Vice- Chairman of the Board of Directors talked about corporate governance before inviting Lorenzo Bini Smaghi to introduce himself. Mr Smaghi was appointed as Director and the Board of Directors’ second Vice-Chairman. All the proposed resolutions were approved. Shareholders notably voted to pay a cash dividend of €1 per share in respect of 2013 (€0.45 in 2012). The ex-dividend date was set at 27 May and the dividend was paid as from 30 May. Key points of Frédéric Oudéa’s message 2014 was not just another year: it was the year the Group celebrated the 150th anniversary. Societe Generale was founded on 4 May 1864, by a group of entrepreneurs looking to provide finance for commerce and industry. Environment: the “great transition” 2014 was also the year that brought European banking union, a fundamental change that redrew the map of the banking sector and should help ease the fragmentation that affects European monetary union. True, the environment remains tough and demanding. Activity will only pick up gradually in the euro zone, particularly in France. Eventually, central banks will have to rein in their accommodative monetary policies, potentially leading to rises in interest rates. Also, we have yet to adapt to new regulations designed to promote disintermediation. While these factors are not immediately good for banking business, structurally positive trends are also evident: the need, for instance, to finance infrastructure, natural resources and energy should help to sustain global growth, particularly in
LA_LETTRE_DE_LACTIONNAIRE_N91_UK
To see the actual publication please follow the link above