Airbus 2013 Annual Report Download - page 13

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DRIVING OUR DEVELOPMENT — ANNUAL REVIEW 2013LETTER FROM THE CHAIRMAN OF THE BOARD —
We are glad to reect the improved nancial performance in
the proposed 75 cent per share gross dividend. It represents
a 25percent increase over last year and a payout ratio of
40percent, in line with the new policy announced in December
2013. This new policy demonstrates a strong commitment
to shareholders’ returns and will target sustainable growth in
the dividend within a payout ratio of 30%-40%.
Moreover, I’m pleased to say that the transformed governance is
not only a change in our body of rules, but already a lived reality.
Today, the work of the Board of Directors is marked by a strong
sense of responsibility and motivation, witnessed by the high
level of attendance at Board and Committee meetings, and even
more by the quality of discussion and issues addressed.
The evaluation which was carried out in the rst ten months of the
Board’s tenure, testies to a high degree of openness and focus
within the Board and between Board and management.
While gender representation is clearly an area to be addressed
at its next renewal, the Board collectively displays an impressive
range of relevant skills and experience, as well as international
diversity and independence. Few Boards in our industry or in any
other can boast such an international line-up of high-calibre
individuals. It certainly sends out a strong signal of our Group’s
global ambitions.
Already the Board has had numerous occasions to display its
qualities both in monitoring programme evolution and in
addressing more strategic matters.
Throughout 2013, the Board closely followed the progress of
major aircraft programmes such as the A350 XWB, the A380,
A400M, NH90 and EC225 retrot.
Just as importantly, the Board played a signicant supporting
role in the Strategy 2.0 discussion. The decision to integrate
Airbus Military, Astrium and Cassidian into one Defence and
Space Division in order to enhance competitiveness in the face
of a challenging business environment has been carried with the
full support of the Board. So too has the plan to adopt the strong
Airbus brand for the entire Group.
Board expertise has been an important resource helping to
shape and challenge management thinking on a variety of
longer-term ‘DNA’ topics, such as innovation and global footprint,
executive incentivisation, enterprise risk management, compliance
programmes and export control regulations, as well as issues
relating to cyber security.
In the year ahead, the Board has an ambitious agenda. We will
be closely monitoring progress in the ongoing restructuring.
The long-term success of the Group depends on it. We will
also be examining the strategic positioning of the company’s
businesses, with an eye both to the present and the next
long-term investment and production cycles.
Further areas of focus will be the management’s delivery
of its plan, commitments to the capital markets, performance
targets and evaluation, and the handling of operational risks
and opportunities typical to such a complex business.
Throughout all our activities, we will continue to support and
promote ethical working practices. Over the long-term, good
citizenship and irreproachable behaviour are an essential basis
for Company performance. On this point, too, I can assure you,
that we intend to act in the best interests of all our stakeholders.
Denis Ranque
COMMITTEES OF
THE BOARD
OF DIRECTORS
AUDIT COMMITTEE
Hermann-Josef Lamberti (Chairman)
Anne Lauvergeon
Michel Pébereau
Josep Piqué i Camps
REMUNERATION AND NOMINATION
COMMITTEE
Sir John Parker (Chairman)
Jean-Claude Trichet
Lakshmi N. Mittal
Hans-Peter Keitel
For more detailed information,
please refer to the Corporate Governance section
in the Registration Document 2013.
In 2013, Airbus Group formalised a
dividend policy demonstrating a strong
commitment to shareholders’ returns.
This policy targets a sustainable growth in
the dividend within a payout ratio of 30%-40%.
DIVIDEND 2013 PER SHARE:
€ 0.75*
*To be proposed to the Annual General Meeting.
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