Rueil-Malmaison (France), June 19, 2014 – Schneider Electric SA announces today that it is to become Schneider Electric SE following its registration as a European Company with the French Trade & Companies Register. This action was taken in accordance with resolutions adopted by the General Shareholder's Meeting, which took place May 6, 2014, on the change of company status, and following negotiations with employee representatives from 25 countries within the European Economic Area. On June 10, after an almost unanimous vote (representing 97% of the Group's European employees), the employee representatives approved and signed an agreement that will strengthen European social dialog within Schneider Electric.
Schneider Electric has undergone major changes in recent years. Its business has significantly expanded and has become diversified geographically, making Schneider Electric a truly global player in its markets. In this context, Europe - an integrated economic area and home to a significant proportion of the Group's human capital and technological innovation - is quickly becoming the company's new frame of reference. The European Company Status, proposed by the Board of Directors last December, best reflects the company's European and international nature.
"The Board of Directors is delighted with the overwhelming support for this initiative expressed by the company's shareholders and employee representatives" said Jean-Pascal Tricoire, Chairman & CEO, Schneider Electric. "More shareholders, customers, and employees will be able to identify with the European Company status as one that is closely aligned with our ethos and strengthens our strong European base".
About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across numerous market segments, including leadership positions in Utilities & Infrastructure, Industries & Machines Manufacturers, Non-residential Building, Data Centers & Networks and in Residential. Focused on making energy safe, reliable, efficient, productive and green, the Group's 150,000 plus employees achieved sales of 24 billion euros in 2013, through an active commitment to help individuals and organizations make the most of their energy.