Employee Share Ownership Plan of Renault Group in 2024: Vigorous Expansion Trajectory
Renault Group Launches Successful Employee Share Ownership Campaign
The Renault Group has announced the results of its third employee share ownership campaign, named the 2024 Renaulution Shareplan. The campaign, which took place from September 18 to October 2, 2024, was a resounding success, with over 1,063,000 shares subscribed and a participation rate of 43%.
Approximately 817,600 shares will be allocated free to the Group's employees, with an additional matching contribution, capped at the equivalent of 7 shares, provided in case of subscription to the 2024 Renaulution Shareplan offer. The average subscription amount per employee was €679, amounting to a total investment of over €31,100,000 by employees.
The shares will be held through an Employee Mutual Fund (FCPE) or in some countries, directly in a registered account. By the end of the campaign, employees will hold 5.74% of Renault SA's capital. The Group is moving closer to its ambition of achieving 10% employee shareholding.
Luca de Meo, CEO of Renault Group, stated that the campaign is a sign of employees' confidence in the company's strategy. "We are proud to see such a high level of participation in our employee share ownership campaign," said de Meo. "It is a testament to the trust our employees have in our strategy and the future of the Renault Group."
The 2024 Renaulution Shareplan was open to employees in various countries, including 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.
The contributions under the 2024 Renaulution Shareplan represent approximately 0.28% of Renault SA's capital. The 2024 Renaulution Shareplan operation will transfer approximately 1,881,000 shares to the company's employees, representing 0.64% of Renault SA's capital.
The Renault Group continues to encourage employee engagement and ownership, and the success of the 2024 Renaulution Shareplan is a significant step towards achieving its goal of increasing employee shareholding.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Stopping Osteoporosis Treatment: Timeline Considerations
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
