Wednesday, December 28, 2016

The stock options of ceo Carlos Ghosn has raised serious criticism – The Figaro

The CEO of Renault could pocket more than 6 million euros of added value by the exercise of stock options (stock-options) granted in respect of his variable compensation. Information that has to react, the political class and the trade unions of the automotive group.

the pay of The boss of Renault is to new wave. After having suffered last spring the threat of Emmanuel Macron – minister of the Economy -calls for the “measurement” of the business, and a vote against his compensation for the shareholders of Renault in an advisory capacity, ceo Carlos Ghosn today faces a storm of criticism about the exercise of his stock options.

Carlos Ghosn, who has earned more than € 16 million in 2015/2016 as CEO of Nissan and Renault chairman and CEO, has exercised options to purchase shares (or stock options) granted in respect of his variable compensation, which could allow him to pocket more than six million euros of added value, according to a document revealed Tuesday by AFP. In a statement to the financial markets Authority (AMF), the leader of automobile you have acquired on December 16, 132.720 shares of his company at a unit price contract 37,43€. The course of action Renault in Paris was Tuesday afternoon 85,34€, which represents a greater potential value of 6.36 million euros for Carlos Ghosn, if it sells these securities at this price.

” Carlos Ghosn earned more than 16 million euros in a year

” Wage: the employers claim to Carlos Ghosn to the “extent”

This information has raised quite a stir in the political class. “The Medef we have cruised on. (…) It’s been four and a half years they tell us that they will self-regulate,” insurgent Karine Berger, mp and head of the firm’s ideas and project for Vincent Peillon for the primary organized by the PS, on LCI. “Renault has not only been helped by the power of the public but, in particular, has been part of the companies who have led its employees to reduce their vacation days and to reduce their wages for periods ranging from one year to two years. So Carlos Ghosn is paid on the efforts of wages and time of work of its own employees, and that is unacceptable.”

An anger shared by Richard Ferrand, secretary general of power up!, support of Emmanuel Macron to the presidential election. “It goes without saying that this is still morally shocking to discover that one can win like that, on a manoeuvre linked to the capital, at the bottom a lot more than a lot of French people earn in a lifetime. It is always the system a bit of a paradox with these things which are clearly legal, and at the same time shocking,” he said on RTL. For François de Rugy, a candidate ecologist at the primary organized by the PS, interviewed on RMC, “this is legal but it is very shocking because it is a wage scale utterly fantastic in the Renault group”.

Yves Jégo, vice-president of the UDI, says. “I see that Renault is a company that has positive results. At the bottom, if the head of Renault, because it has shares of the company, key earnings because it has well-managed the company with or participated in running the business, it seems to me to be also what is the capitalism in our world today,” he said on Europe 1, while admitting: “I would be a worker at Renault, working at the MINIMUM wage, I would be shocked.”

Also quick to respond, the CGT of Renault was accused Wednesday in a news release Carlos Ghosn as his “cynicism exacerbated” and “remuneration indecent”. The union compares this sum of 6 million euros to the situation of a “majority of the employees of the Renault group, whose purchasing power keeps dropping the name of a ‘wage moderation necessary’ and which are considered only as ‘cost to reduce’”. “Carlos Ghosn is here rewarded for the achievement of its objectives contained in the agreement of competitiveness, 2013-2016″ says the CGT denounced the “job cuts” (9.200 departures on these three years for 3,000 new hires a portion of which will be completed in 2017) and the “precariousness” with an increase in the number of temporary workers.

The new controversy comes at a time when an enterprise agreement, including on the employment and the flexibility needs to be signed at the beginning of 2017. FO and CFE-CGC have already announced that they will be signatories. The CGT and the CFDT are not yet formally pronounced.

” Renault negotiates a new enterprise agreement

(with branches)


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