Casino, Guichard-perrachon Sa · EURONEXT:CO
Casino, Guichard-perrachon Sa — Shareholder Meeting (May 2021)
83 slides from Casino, Guichard-perrachon Sa's shareholder meeting presentation, May 12, 2021
Slide 1: Introduction
Introduction - Jean-Charles Naouri Chairman and Chief Executive Officer 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 2: Introduction
Introduction - Jean-Charles Naouri Chairman and Chief Executive Officer 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 3: Video: A tribute to our employees during the pandemic
Video: A tribute to our employees during the pandemic 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 4: Appointment of the meeting officers
Appointment of the meeting officers Pursuant to the powers given by the Board of Directors in connection with the organisation of this general meeting of shareholders, the Chairman hereby appoints the meeting officers. He reminds shareholders that: RALLYE, represented by Jacques Dumas, and EQUITIS G
Slide 5: Agenda
Agenda - 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 6: Agenda: Resolutions of the Ordinary General Meeting
AGENDA Resolutions of the Ordinary General Meeting Approval of the parent company financial statements for the year ended 31 December 2020 (1st resolution) Approval of the consolidated financial statements for the year ended 31 December 2020 (2nd resolution) Allocation of profit for the financial ye
Slide 7: Agenda: Resolutions of the Extraordinary General Meeting
AGENDA Resolutions of the Extraordinary General Meeting Delegation of competence granted to the Board of Directors for the purpose of issuing Company shares or securities granting access to the shares of the Company or one of its subsidiaries, with preferential subscription rights for existing share
Slide 8: Agenda: Resolutions of the Extraordinary General Meeting
AGENDA Resolutions of the Extraordinary General Meeting Delegation of competence granted to the Board of Directors for the purpose of increasing the share capital by capitalising reserves, profits, premiums or any other sums for which capitalisation is authorised (18th resolution) Delegation of comp
Slide 9: Contents
Contents Highlights Results Corporate social responsibility Governance Reports of the Statutory Auditors Resolutions 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 10: Highlights
Highlights - Jean-Charles Naouri Chairman and Chief Executive Officer 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 11: Significant events of the year in France
Significant events of the year in France: after an H1 performance affected by health crisis costs, profitability increased sharply in H2 Second half Year In €m H2 2019 H2 2020 Change 2019 2020 Change EBITDA 921 977 +6% 1,536 1,580 +3% EBITDA after lease 590 666 +13% 898 946 +5% payments In an enviro
Slide 12: Q1 2021 highlights in France
Q1 2021 highlights in France: the H2 2020 trend of increased profitability continued with a sharp 19% increase in EBITDA (up 372% after lease payments) In €m - France Q1 2020 Q1 2021 Change EBITDA1 172 204 +19% Adjusted consolidated EBITDA including leases1,2 9 40 +372% Retail banners Further increa
Slide 13: Video: Franprix - Cécile Guillou
Video: Franprix - Cécile Guillou, Chief Executive Officer of Franprix 2021 Annual General Meeting / Wednesday, Wednesday 12 May May 2021
Slide 14: Highlights in Latin America: excellent growth and profitability
Highlights in Latin America: excellent growth and profitability Significant events in 2020 Second half Year Change Change In €m H2 2019 H2 2020 2019 2020 at CER at CER EBITDA 596 7011 +58% 1,104 1,1611 +36% EBITDA after lease 443 5741 +73% 789 8841 +45% payments Strong growth in sales, up 12% on a s
Slide 15: Highlights in Latin America: spin-off of Assaí's businesses
Highlights in Latin America: spin-off of Assaí's businesses Spin-off of Assaí’s businesses completed on 31 December 2020, shares admitted to trading on 1 March 2021 Each entity operates autonomously and has direct access to the capital markets and different financing sources Assaí shares were distri
Slide 16: France: progress in all development areas
France: progress in all development areas 1. Strong profitability among the retail banners 2. Strong growth in food and non-food e-commerce (Cdiscount) 3. Accelerated development of new businesses (GreenYellow and RelevanC) 4. A Group committed to CSR 2021 Annual General Meeting / Wednesday, 12 May
Slide 17: Retail banners: EBITDA margin of 12% in H2
1. Retail banners: EBITDA margin of 12% in H2 Year 2020: All banners achieved a level of profitability, including the hypermarkets, with a very satisfactory level for the other banners Dilutive activities divested (Rocade plan, Leader Price) Hypermarket model adapted, with a reduction in non-food in
Slide 18: Video: Casino banners - Tina Schuler
1. Retail banners Video: Casino banners - Tina Schuler, Chief Executive Officer of Casino Supermarchés, Géant Casino and Casino Proximités 2021 Annual General Meeting / Wednesday, Wednesday 12 May May 2021
Slide 19: Food e-commerce sales: up 67%
2. Food e-commerce sales: up 67% Year 2020: Food e-commerce sales up 67%1, focused on structurally profitable models Click & collect and home delivery solutions offered by the urban and convenience formats, new partnerships signed with Deliveroo and Uber Eats Partnership with Amazon extended to incl
Slide 20: Video: Monoprix - Jean-Paul Mochet
2. Food e-commerce Video: Monoprix - Jean-Paul Mochet, Chairman of Monoprix and Chief Executive Officer of Franprix 2021 Annual General Meeting / Wednesday, Wednesday 12 May May 2021
Slide 21: Cdiscount: EBITDA up 63%
2. Cdiscount: EBITDA up 63% Year 2020: Strong growth in profitability, with EBITDA up 63%1 to €133m1 (€101m after lease payments) Marketplace revenues accelerated by 23% to €182m (up 40% in Q4) Product mix adjusted towards higher margin, higher repeat purchase categories (home, leisure, beauty) Acce
Slide 22: Video: Cdiscount - Emmanuel Grenier
2. Cdiscount Video: Cdiscount - Emmanuel Grenier, Chief Executive Officer of C Nova NV and Chairman and Chief Executive Officer of Cdiscount 2021 Annual General Meeting / Wednesday, Wednesday 12 May May 2021
Slide 23: RelevanC: EBITDA up 50%
3. RelevanC: EBITDA up 50% Year 2020: After developing its solutions for the Group banners, RelevanC now offers external customers the opportunity to accelerate the monetisation of their data First contracts signed with retailers in early 2021 RelevanC offers specialised customer relationship manage
Slide 24: Video: RelevanC - Cyril Bourgois
3. RelevanC Video: RelevanC – Cyril Bourgois, Group Chief Digital Officer, Chief Executive Officer of RelevanC and Executive Director, New Businesses 2021 Annual General Meeting / Wednesday, Wednesday 12 May May 2021
Slide 25: GreenYellow: a unique growing player in energy transition
3. GreenYellow: a unique growing player in energy transition Year 2020: Strong business momentum, led by an increasingly diversified customer portfolio, and rapidly expanding pipeline and installed capacity Accelerated B2B customer portfolio diversification and a doubling of the B2C customer base fo
Slide 26: Video: GreenYellow - Otmane Hajji
3. GreenYellow Video: Green Yellow Otmane Hajji, Chairman of GreenYellow 2021 Annual General Meeting / Wednesday, Wednesday 12 May May 2021
Slide 27: CSR: a recognised commitment, underpinned by the Group's values
4. CSR: a recognised commitment, underpinned by the Group’s values A commitment recognised in the global ESG rankings 8th global company and no.1 retailer according to Vigeo Eiris, a subsidiary of Moody’s1 Only retailer in the Wall Street Journal’s global Top 100 sustainably managed companies2 A cli
Slide 28: Financial results
Financial results - David Lubek Chief Executive Officer, Corporate Finance 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 29: Video: Key figures
Video: Key figures 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 30: 2020 Key Figures
2020 Key Figures Reported In €m 2019 2020 Change at CER change Net sales 34,645 31,912 -7.9% +9.0%1 EBITDA 2,640 2,742 +3.9% +17.0% Trading profit 1,321 1,426 +7.9% +25.2% Trading profit 1,321 1,287 -2.6% +14.8% excl. tax credits Underlying net profit, 196 268 +37.0% +61.9% Group share Underlying di
Slide 31: France: strong growth in profitability, EBITDA up 12.8% in H2
France: strong growth in profitability, with EBITDA (after lease payments) up 12.8% in H2 H2 H2 In €m – France (incl. Cdiscount) Change 2019 2020 Change 2019 2020 Consolidated net sales 9,354 8,509 +0.2%1 18,288 17,256 +3.2%1 EBITDA 921 977 +6.1% 1,536 1,580 +2.9% EBITDA margin (%) 9.8% 11.5% +164 b
Slide 32: France Retail banners: EBITDA margin at 12% in H2
France Retail banners: EBITDA margin at a satisfactory level of 12% in H2 H2 H2 In €m – France Retail Change 2019 2020 Change 2019 2020 1 Net sales 8,276 7,419 -0.1% 16,322 15,219 +3.0%1 EBITDA 866 891 +3.3% 1,467 1,451 -1.1% EBITDA margin (%) 10.5% 12.0% +155bps 9.0% 9.5% +55 bps France Retail EBIT
Slide 33: Cdiscount: marketplace acceleration, EBITDA margin up
Cdiscount: marketplace acceleration, EBITDA margin up 88% H2 H2 In €m – E-commerce (Cdiscount) Change 2019 2020 Change 2019 2020 Gross merchandise volume (GMV) 2,146 2,261 +5.4%1 3,899 4,207 +8.6%1 o/w marketplace sales 679 832 +22.6% 1,237 1,505 +21.6% Net sales 1,077 1,089 +1.1%1 1,966 2,037 +3.6%
Slide 34: Latam: excellent performances, EBITDA up 58% in H2
Latam: excellent performances, EBITDA up 58% in H2 Change Change In €m H2 2019 H2 2020 at CER 2019 2020 Change at CER Consolidated net sales 8,449 7,264 +12.6%1 16,358 14,656 -10.4% +11.6%1 1 o/w Multivarejo 3,043 2,338 +10.1%1 5,998 4,924 -17.9% +11.4% o/w Assaí 3,334 3,137 +18.7%1 6,293 6,095 -3.1
Slide 35: H2 underlying diluted EPS: €3.38
H2 underlying diluted EPS: €3.38 Underlying diluted earnings per share In €m 2019 2020 Weighted average number of ordinary shares before dilution 107,924,134 107,677,458 Underlying net profit, Group share (in €m) 196 268 Dividends payable on perpetual deeply-subordinated bonds (37) (34) (TSSDI) (in
Slide 36: Reduction in consolidated net debt (before IFRS 5): €1bn
Reduction in consolidated net debt (before IFRS 5): €1bn 2019 2020 Net debt Net debt Net debt Net debt Net debt after IFRS 5 before before IFRS 5 after In €m IFRS 5 IFRS 5 Change over the period IFRS 5 IFRS 5 -318 France 2,505 1,564 4,069 (-566 incl. GPA TRS 3,751 703 3,048 settlement) o/w France Re
Slide 37: Simplified Group cash flow statement for 2020
Simplified Group cash flow statement for 2020 Continuing operations In €m SOURCES USES Operating cash flow, including lease 1,473 Gross capital expenditure 927 payments1 Change in working capital requirement 18 Income taxes 157 Free cash flow2 407 1 Including lease payments, i.e., repayment of lease
Slide 38: More than 46,000 individual shareholders at end-2020
The Group had more than 46,000 individual shareholders at end-2020, representing 19.5% of the share capital At 31 Dec. 2020 Number of shares held by individual shareholders (in millions) 21.2 Number of identified individual shareholders 46,314 % of capital 19.5% The Group had 46,000 individual share
Slide 39: Work of the Shareholders' Consultative Committee in 2020
Work of the Shareholders' Consultative Committee in 2020 • Meeting of 25 September 2020 • Recap of the Annual General Meeting of 17 June 2020 and Q1 2020 results • Discussion with Matthieu Riché, Group CSR Director, on the topic of “Taking action for responsible retailing” • Meeting of 25 March 2021
Slide 40: Corporate social responsibility
Corporate social responsibility - Matthieu Riché Group CSR Director 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 41: A Group that leads through its ESG performance
A Group that leads through its ESG performance Casino Group, whose 15 CSR priorities are enshrined in the UN Sustainable Development Goals, obtained excellent non-financial performance ratings from the main rating agencies ► Group Casino has signed up to Score out of 100 Score out of 100 Score out o
Slide 42: A climate-aware Group
A climate-aware Group Casino Group has had its climate objectives approved by the Science Based Targets initiative 18% reduction in Group greenhouse 10% reduction in Group greenhouse gas emissions primarily from energy, gas emissions from the sale of products and refrigerant gas and goods transport
Slide 43: A climate-aware Group
A climate-aware Group Reducing energy consumption in stores Group France 26% 2020 -9% 540 of the electricity 148 solar farms key Reduction in the Group’s 471 consumed by the Group comes from installed at Casino Group sites, producing the equivalent of 5% of all the electricity consumed by the Group
Slide 44: A more responsible product offering
A more responsible product offering A wide range of certified sustainable products 2020 €1.3bn 2,700 22,700 200+ A wide range of vegetable protein- based products in net sales private-label organic products private-label and national-brand all-organic key from organic produce sold organic food produ
Slide 45: A responsible employer, committed to equal opportunities
A responsible employer, committed to equal opportunities Promoting all forms of diversity: First retailer to have obtained France’s Diversity Label and Workplace Equality Label* After first launching initiatives to combat racism in 1993, the Group has expanded its actions to cover discrimination b
Slide 46: A responsible employer, committed to equal opportunities
A responsible employer, committed to equal opportunities 4 foundations supporting children and some 135,000 beneficiaries Supporting associations on the ground in all their diversity Amidst the Covid-19 pandemic, Casino Group and its banners stepped up their efforts to collect and distribute food an
Slide 47: Governance
Governance - Jacques Dumas 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 48: Current composition of the Board of Directors
Current composition of the Board of Directors 13 Directors 4 Independent Directors: 31% 6 women: 46% 2 Non-Voting Directors Jean-Charles Naouri Chairman and Chief Executive Officer Other qualified external Directors representing the Non-Voting Directors Independent Directors Directors contro
Slide 49: Work of the Board and its Committees in 2020
Work of the Board and its Committees in 2020 Board of Directors 10 meetings (13 in 2019) Strong engagement of Directors: 97.9% attendance rate 2020 Focus 2020-2022 strategy for the Group and banners (extended to 2023) Financial position and rating Debt reduction and asset disposal plan Business reor
Slide 50: Work of the Board's Committees in 2020
Work of the Board’s Committees in 2020 22 meetings Appointments and Governance and CSR Audit Committee Compensation Committee Committee Frédéric Saint-Geours Nathalie Andrieux* Catherine Lucet* (Chair) (Chair) (Chair) Laure Hauseux* Laure Hauseux* Nathalie Andrieux* Catherine Lucet* David de Rothsch
Slide 51: Specific temporary assignment entrusted to the Governance and CSR Committee
Specific temporary assignment entrusted to the Governance and CSR Committee Temporary adjustment to the Committee’s role in connection with the safeguard proceedings at the parent companies (arrangement approved by the Board on 13 June 2019 on the recommendation of the Governance and Social Respon
Slide 52: Composition of the Board of Directors
Composition of the Board of Directors Proposals submitted to the Annual General Meeting (8th to 11th resolutions) Re-election of Nathalie Andrieux as Independent Director (8th resolution) Election of three Independent Directors (9th to 11th resolutions) Maud Bailly Thierry Billot Béatrice Dumurg
Slide 53: Composition of the Board: Maud Bailly
Composition of the Board of Directors Proposals submitted to the Annual General Meeting (9th to 11th resolutions) Election of an Independent Director Maud Bailly, Chief Executive Officer Southern Europe of the Accor group (listed company) • After graduating from École normale supérieure de Lettres
Slide 54: Composition of the Board: Thierry Billot
Composition of the Board of Directors Proposals submitted to the Annual General Meeting (9th to 11th resolutions) Election of an Independent Director Thierry Billot, Lead Independent Director at the Bel group (listed company) • Thierry Billot is a graduate of the ESCP Europe business school. In 19
Slide 55: Composition of the Board: Béatrice Dumurgier
Composition of the Board of Directors Proposals submitted to the Annual General Meeting (9th to 11th resolutions) Election of an Independent Director Béatrice Dumurgier • Béatrice Dumurgier is a graduate of École Polytechnique (1997) and Corps des Ponts et Chaussées (2000) and holds a Master of Sc
Slide 56: Composition of the Board at the close of the AGM
Composition of the Board of Directors at the close of the Annual General Meeting* Jean-Charles Naouri, Chairman and Chief Executive Officer 14 Directors 6 women (43%) 36% Independent Directors (5/14) Members have a diverse range of skills The Board will appoint the members of the Committee
Slide 57: 2020 Report on compensation
2020 Report on compensation Fourth resolution All of the information relating to the compensation paid to corporate officers of the Company in 2020 or granted to them in respect of that year (information referred to in paragraph I of Article L. 22-10-9 of the French Commercial Code) is detailed in
Slide 58: Compensation of the Chairman and CEO in respect of 2020
Compensation of the Chairman and CEO in respect of 2020 Fifth resolution Compensation structure presented to the 2020 Annual General Meeting Fixed compensation: €480k Conditional annual variable compensation: target of 130% of fixed compensation (i.e., €624k) and maximum of 167.5% Conditional long
Slide 59: Chairman and CEO 2018 long-term variable compensation
Compensation of the Chairman and CEO in respect of the 2018 long-term variable compensation (LTI) plan Fifth resolution Conditional long-term incentive (LTI) bonus granted at the 2018 AGM: Target and maximum amounts: 100% of fixed compensation (€480k) Entirely contingent on 2 performance criteria
Slide 60: Compensation of the Chairman and CEO in respect of 2021
Compensation of the Chairman and CEO in respect of 2021 Sixth resolution Structure for 2021: Annual fixed and variable compensation Fixed compensation: €480k (unchanged since 2013) Conditional annual variable compensation: target of €825k and maximum of €1,237.5k Exclusively quantitative objective
Slide 61: Compensation of the Chairman and CEO in respect of 2021
Compensation of the Chairman and CEO in respect of 2021 Sixth resolution Conditional long-term incentive (LTI) Target amount: €1,237.5k, potentially paid in 2024 Maximum amount: €1,856.2k if performance targets are exceeded Entirely contingent on 3 performance criteria assessed at the end of a 3-y
Slide 62: Compensation of non-executive Directors in respect of 2021
Compensation of non-executive Directors in respect of 2021 Seventh resolution 2021 structure unchanged vs. 2020 Directors Basic compensation per member: €25k, comprising a fixed portion of €8.5k and a variable attendance-based portion of €16.5k, unchanged since 2007 For Directors representing the
Slide 63: Compensation of non-executive Directors in respect of 2021
Compensation of non-executive Directors in respect of 2021 Seventh resolution 2021 structure unchanged vs. 2020 Audit Committee members: Basic compensation per member: €20k, comprising a fixed portion of €6.5k and a variable attendance- based portion of €13.5k, unchanged since 2007 Additional comp
Slide 64: Statutory Auditors' Report
Statutory Auditors’ Report - Frédéric Moulin 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 65: 2020 Universal Registration Document: List of reports
2020 Universal Registration Document List of reports Report on the parent company financial statements Report on the consolidated financial statements Special report on regulated (related-party) agreements Special reports to the Extraordinary Shareholders' Meeting 2021 Annual General Meeting / Wedne
Slide 66: Casino, Guichard-Perrachon financial statements
Casino, Guichard-Perrachon financial statements Universal Registration Document: pages 137 to 140 Resolution 1 Unqualified opinion on the financial statements, without any emphasis of matter “In our opinion, the financial statements give a true and fair view of the assets and liabilities and of the
Slide 67: Casino, Guichard-Perrachon consolidated financial statements
Casino, Guichard-Perrachon consolidated financial statements Universal Registration Document: pages 35 to 39 Resolution 2 Unqualified opinion on the financial statements, with one emphasis of matter regarding changes in accounting methods in the period in respect of the first-time application of the
Slide 68: Regulated (related-party) agreements
Casino, Guichard-Perrachon regulated (related-party) agreements Universal Registration Document: pages 165 to 167 Agreements submitted to the approval of the Annual General Meeting No agreements authorised and concluded during the year were to be submitted to the approval of the Annual General Meeti
Slide 69: Statutory Auditors' special reports
Statutory Auditors' special reports Purpose of the reports Resolutions 13 to 17, 19, 20 and 22 Delegations of authority, for a period of 26 months and within a specified limit to issue shares and securities, and within the limit of 2% of the total number of shares in the Company, to issue shares or
Slide 70: Written questions
Written questions - Patrice Arpal Secretary of the Meeting 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 71: Resolutions
Resolutions - Patrice Arpal Secretary of the Meeting 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 72: First to third resolutions
ORDINARY GENERAL MEETING First resolution Approval of the parent company financial statements for the year ended 31 December 2020 Votes “in favour” represent 99.08%, votes “against” represent 0.92%: this resolution is adopted by a majority vote Second resolution Approval of the consolidated financ
Slide 73: Fourth and fifth resolutions
ORDINARY GENERAL MEETING Fourth resolution Approval of the information referred to in Article L. 22-10-9 I of the French Commercial Code relating to the compensation of corporate officers paid in or granted for financial year 2020 Votes “in favour” represent 99.73%, votes “against” represent 0.27%
Slide 74: Sixth and seventh resolutions
ORDINARY GENERAL MEETING Sixth resolution Approval of the compensation policy for the Chairman and Chief Executive Officer in respect of financial year 2021 Votes “in favour” represent 93.23%, votes “against” represent 6.77%: this resolution is adopted by a majority vote Seventh resolution Approva
Slide 75: Eighth and ninth resolutions
ORDINARY GENERAL MEETING Eighth resolution Re-election of Nathalie Andrieux as a Director Votes “in favour” represent 96.18%, votes “against” represent 3.82%: this resolution is adopted by a majority vote Ninth resolution Election of Maud Bailly as a Director Votes “in favour” represent 97.78%,
Slide 76: Tenth and eleventh resolutions
Ordinary General Meeting Tenth resolution Election of Thierry Billot as a Director Votes “in favour” represent 99.85%, votes “against” represent 0.15%: this resolution is adopted by a majority vote Eleventh resolution Election of Béatrice Dumurgier as a Director Votes “in favour” represent 99.95
Slide 77: Twelfth resolution
ORDINARY GENERAL MEETING Twelfth resolution Authorisation for the Company to buy back its own shares Limit: 10% of the capital as of the date of this Annual General Meeting Maximum purchase price: €100 per share Authorisation valid for: 18 months Use when a public tender offer is in progress: No, ex
Slide 78: Thirteenth to twenty-first resolutions
EXTRAORDINARY GENERAL MEETING Thirteenth to twenty-first resolutions Renewal of the financial authorisations for 26 months (not valid during public tender offers unless previously authorised by the shareholders in General Meeting) Aggregate authorised ceiling set in the 21st resolution R Subject Ter
Slide 79: Thirteenth to twenty-first resolutions
EXTRAORDINARY GENERAL MEETING Thirteenth to twenty-first resolutions Renewal of the financial authorisations for 26 months (not valid during public tender offers unless previously authorised by the shareholders in General Meeting) R Subject Terms and Maximum conditions amount 16 • Exceptional issue
Slide 80: Thirteenth to twenty-first resolutions
EXTRAORDINARY GENERAL MEETING Thirteenth to twenty-first resolutions Renewal of the financial authorisations for 26 months (not valid during public tender offers unless previously authorised by the shareholders in General Meeting) R Subject Terms and Maximum conditions amount 19 • Share capital incr
Slide 81: Twenty-second and twenty-third resolutions
EXTRAORDINARY GENERAL MEETING Twenty-second resolution Delegation of competence granted to the Board of Directors for the purpose of increasing the share capital, without preferential subscription rights for existing shareholders, or selling the Company’s own shares for the benefit of members of a c
Slide 82: Twenty-fourth resolution
EXTRAORDINARY GENERAL MEETING Twenty-fourth resolution Powers for formalities Votes “in favour” represent 99.98%, votes “against” represent 0.02%: this resolution is adopted by a majority vote 2021 Annual General Meeting / Wednesday, 12 May 2021
Slide 83: Introduction
Introduction - Jean-Charles Naouri Chairman and Chief Executive Officer 2021 Annual General Meeting / Wednesday, 12 May 2021
Casino, Guichard-Perrachon — Shareholder Meeting (May 2021) on 6ix