SHERIDAN, WYOMING – September 15, 2024 – Renault Group is reinforcing its commitment to employee ownership and value sharing by launching its third consecutive employee share ownership plan, the 'Renaulution Shareplan 2024.' This initiative aims to further involve employees in the company's success and strengthen their commitment to its future.
Building on Previous Success
Following the positive outcomes of the Renaulution Shareplan in 2022 and 2023, Renault Group is continuing this program in 2024. The plan is open to nearly 98,000 employees across 30 countries, providing them with the opportunity to become shareholders on preferential terms. This initiative aligns with the Group's ambition to increase employee-held equity to 10% by 2030.
Key Features of the Plan
- Free Shares: All eligible employees will receive an allocation of seven free shares, demonstrating the company's appreciation for their contributions.
- Discounted Share Purchase: In 24 participating countries, employees can purchase additional shares at a 30% discount from the reference price.
- Matching Contribution: For every three shares purchased, employees will receive an additional matching contribution equivalent to seven free shares, further incentivizing participation.
Commitment to Employee Engagement
Renault Group CEO Luca de Meo emphasized the significance of the plan, stating: "The new 2024 Renaulution Shareplan is an extremely important initiative in my eyes. Our employee share ownership plan is one of the most advanced seen in any sector of industry. 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."
Subscription Period and Details
The subscription period for the Renaulution Shareplan 2024 runs from September 18th to October 2nd, 2024. The reference share price is set at 41.80 euros, resulting in a discounted subscription price of 29.26 euros.
About Renault Group
Renault Group is a global automotive manufacturer committed to driving innovation and sustainable mobility solutions. With a diverse range of brands, including Renault, Dacia, Alpine, Mobilize, and Renault PRO+, the Group is dedicated to meeting the evolving needs of customers worldwide.