Renault Group, the renowned automotive manufacturer, is reinforcing its commitment to employee share ownership. The company has launched its third consecutive employee share ownership plan.
This initiative is part of the broader Renaulution strategy, aimed at enhancing employee engagement, fostering a sense of ownership. It also aims to aligning the workforce with the company’s long-term vision.
The Renaulution Shareplan 2024 by Renault
Renault Group’s latest share ownership plan builds upon the success of the Renaulution Shareplan in 2022 and 2023. The primary objective is clear: to enable nearly 98,000 employees across 30 countries to become shareholders.
By granting employees a stake in the company, Renault aims to strengthen their commitment, boost morale, and create a shared sense of responsibility for the organization’s performance.
At the end of 2023, employees already held approximately 5.07% of Renault Group’s equity. With the new plan, the company aspires to increase employee-held equity to an impressive 10% by 2030.
This ambitious target underscores Renault’s belief that a motivated and invested workforce contributes significantly to sustainable growth and innovation.
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How the Shareplan Works?
Eligible employees will receive seven free shares as part of the plan. Additionally, employees in 24 countries will have the opportunity to acquire additional shares at a 30% discount.
The reference share price for the plan is set at 41.80 euros, resulting in a subscription price of 29.26 euros after the discount. The subscription period for employees runs from 18 September to 2 October 2024.
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Renault CEO’s Perspective
Luca de Meo, CEO of Renault Group, expressed his enthusiasm for the Renaulution Shareplan: “Our employee share ownership plan is one of the most advanced seen in any sector of industry.”
Luca added, “Renault Group’s commitment to this plan over the past two years is in keeping with its self-image as a company innovating in all areas, maintaining its tradition as a social laboratory, but anchored in the present day!”
“And with the ambition of placing 10% of equity in the hands of the people building our performance, day after day,” he said.
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