Alstom shareholders rejected a severance package of over €1,3 million for former CEO Henri Poupart-Lafarge at the group's annual general meeting held Thursday in Paris. The resolution was defeated by 50,38% of voters, delivering a rebuke to the former executive, who left his position on March 31.
The agreement proposed by the board of directors stipulated a payment of €1.325.964 in exchange for Henri Poupart-Lafarge's commitment to continue cooperating with Alstom in several pre-litigation and litigation proceedings involving the company. No official explanation was given for the rejection. The group stated that it acknowledged the sovereign decision of its shareholders.
The salary has been approved, but not the severance pay.
The shareholders, however, approved the compensation of the former CEO, whose annual fixed salary amounted to €950.000. They also approved that of his successor, Martin Sion, who arrived on April 1st from ArianeGroup and Safran, with an annual fixed salary of €1,05 million.
Alstom wants to improve its industrial performance
The change in management comes as Alstom faces operational difficulties that have led to delivery delays for several major customers, including SNCF and RATP. These problems are weighing on the group's margins.
Addressing shareholders, Martin Sion assured them that the situation was "not irreparable" and prioritized improving the railway manufacturer's operational performance. A company reorganization plan is expected to be presented in early 2027.
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