Verallia Establishes Ad Hoc Committee
PARIS--Regulatory News:
The Board of Directors of Verallia S.A. (the Company) held an important meeting to discuss the recent developments regarding BW Gestão de Investimentos Ltda's interest in the company. This meeting was prompted by BWGI’s indication of a possible tender offer for shares of Verallia not already in its possession, without the intention to take the company private.
To ensure proper oversight of this situation, the Board has decided to form an ad hoc committee composed entirely of independent members. This committee will be crucial in monitoring the Board's actions related to this significant project. It will also handle the preparation of a proposal outlining the detailed terms of the offer.
Composition of the Ad Hoc Committee
The newly formed ad hoc committee includes:
- Mrs. Marie-José Donsion as Chairwoman,
- Mr. Didier Debrosse,
- Mr. Pierre Vareille.
This committee has several important responsibilities. It will propose to the Board the appointment of an independent expert, oversee the work conducted by this expert, and ultimately provide a recommendation to the Board concerning the prospective offer by BWGI. The main objective is to protect the interests of all stakeholders involved with Verallia.
Profiles of the Committee Members
Mrs. Marie-José Donsion brings extensive experience to her role as Chairwoman. An alumnus of the European School of Management, she currently serves as Chief Financial Officer of Arkema. Her past positions have included a directorship on Arkema's board and chair of its Audit Committee. Donsion has a strong history with Alstom Group where she held the role of Chief Financial Officer, among other financial positions, showcasing her expertise in financial oversight.
Mr. Didier Debrosse adds notable international experience, having held leadership roles at renowned consumer goods companies such as Beiersdorf Nivea, Mondelez International, and Heineken. His keen insight into operations and management, particularly through critical acquisitions at Heineken, strengthens the committee’s capabilities.
Mr. Pierre Vareille, a graduate of École Centrale de Paris, holds a solid background in leadership, having served as Chairman and CEO of multiple publicly traded corporations globally. He is currently the Vice-Chairman of the Board of Directors of Vallourec, and his experience will be invaluable to the committee's oversight functions.
About Verallia
Verallia is dedicated to re-imagining glass for a sustainable future. The company aims to redefine the production, reuse, and recycling of glass to elevate it as the world's most sustainable packaging option. Collaboration with customers, suppliers, and partners enables Verallia to develop innovative and eco-friendly solutions.
Employing nearly 11,000 individuals across 35 production facilities in 12 countries, Verallia stands as the European leader and the world’s third-largest glass packaging producer for beverages and food products. The company’s commitment to sustainable practices is evident, as it produced over 16 billion bottles and jars and achieved 2023 revenues of €3.9 billion.
Verallia's commitment to corporate social responsibility has earned it the Ecovadis Platinum Medal, distinguishing it in the top 1% of companies evaluated by Ecovadis. Its carbon emissions reduction target aligns with the Science Based Targets Initiative, aiming for a substantial reduction by 2030.
Listed on compartment A of the Euronext Paris exchange (Ticker: VRLA – ISIN: FR0013447729), Verallia is part of multiple indices, including CAC SBT 1.5°, SBF 120, and CAC Mid 60.
Frequently Asked Questions
What is the purpose of Verallia's ad hoc committee?
The ad hoc committee is set up to oversee a potential tender offer from BWGI and to ensure the interests of all stakeholders are protected.
Who are the members of the committee?
The committee comprises Mrs. Marie-José Donsion (Chairwoman), Mr. Didier Debrosse, and Mr. Pierre Vareille, all of whom have significant management experience.
What might the committee recommend?
The committee will recommend the appointment of an independent expert and evaluate the implications of the tender offer for stakeholders.
What are Verallia's core values?
Verallia focuses on sustainability, innovative solutions, and the value of collaboration throughout its supply chain.
Where is Verallia listed?
Verallia is listed on the regulated market of Euronext Paris under the ticker symbol VRLA.
