Project to transform Valeo into a European Company
Paris, Feb 21, 2020 - Valeo’s Board of Directors held on February 20, 2020 approved the project to transform Valeo into a European company (Societas Europaea, SE).
The European company corporate form has the advantage of benefiting from a common regulatory framework, recognized within European Union.
The legal status of European company will better reflect the European dimension of the group with regard to all stakeholders, in particular its employees and customers. Indeed, of the 114,717 employees of the group, 47,479 are located throughout Europe, with a strong presence notably in France, Germany, Poland, Spain, Czech Republic, Hungary and Romania. With respect to customers, Valeo is a partner to all European automakers.
This transformation does not affect Valeo’s stock market listing and does not change its governance.
The transformation project will be submitted to Valeo’s General Shareholders Meeting to be held on May 26, 2020.
