| PRESS RELEASE 6 September 2024 |
VALUE SHARING: RENAULT GROUP LAUNCHES ITS THIRD EMPLOYEE SHARE OWNERSHIP PLAN AS PART OF THE RENAULUTION
- To further support employee share ownership and build on the nearly 5.07% of equity already held by employees at 31 December 2023, Renault Group is announcing a new plan. Held for the third consecutive year, this latest plan confirms the Group’s ambition to increase employee-held equity to 10% by 2030.
- Seven free shares will be allocated to eligible Group employees in 30 countries. Employees in 24 countries will be able to acquire shares at a 30% discount with an additional matching contribution.
- The reference share price for the plan is 41.80 euros, i.e. a subscription price of 29.26 euros after the discount. The subscription period will run from 18 September to 2 October 2024 (inclusive).
Boulogne-Billancourt, 6 September 2024 – Renault Group believes that employees should benefit directly from the company’s performance. Two years ago, it launched its first employee share ownership plan. Following the success of the Renaulution Shareplan in 2022 and 2023, Renault Group is repeating this initiative in 2024, with the aim of enabling nearly 98,000 employees to become company shareholders on preferential terms. The plan reflects the Group’s ambition of increasing employee-held equity to 10% by 2030, and strengthening employee commitment to the company’s performance and ambitions.
“The new 2024 Renaulution Shareplan is an extremely important initiative in my eyes. Our employee share ownership plan is one of the most advanced seen in any sector of industry. Renault Group’s commitment to this plan over the past two years is in keeping with its self-image as a company innovating in all areas, maintaining its tradition as a social laboratory, but anchored in the present day! And with the ambition of placing 10% of equity in the hands of the people building our performance, day after day.” Luca de Meo, CEO Renault Group
98,000 eligible employees in 30 countries receiving seven free shares
Like its predecessors, this third plan of the Renaulution Shareplan is open to employees of Renault Group and most of its subsidiaries in 30 countries, subject to any local authorisations required: Argentina, Austria, Belgium, Brazil, China, Colombia, Croatia, Czech Republic, France, Germany, Hungary, India, Ireland, Italy, Malta, Mexico, Morocco, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, Turkey, Ukraine and the United Kingdom.
All eligible employees will receive an allocation of seven free shares in the form of a unilateral contribution, with no obligation to invest.
A 30% discount on the share price with an additional matching contribution
In 24 of these countries, Renault Group employees have the option to purchase shares on preferential terms, with a 30% discount on the reference price and a further matching gross contribution equivalent to seven free shares for the first three shares purchased.
In compliance with regulations, the investment made by each employee is limited to 25% of their estimated annual gross remuneration for 2024.
| RENAULT GROUP MEDIA RELATIONS | Florentina Deca +33 6 32 13 69 15 florentina.deca@renault.com |
About Renault Group
Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises 4 complementary brands – Renault, Dacia, Alpine and Mobilize – offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group sold 2.235 million vehicles in 2023. It employs nearly 105,000 people who embody its Purpose every day, so that mobility brings people closer.
Ready to take on challenges on the road as well as in competition, the Group is committed to an ambitious, value-creating transformation. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced, and electrified vehicles. In line with environmental challenges, the Group’s ambition is to achieve carbon neutrality in Europe by 2040.
For more information: https://www.renaultgroup.com/fr/
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