In the current context of COVID-19 pandemic, and in solidarity with the Group's employees who are undergoing partial activity measures implemented to protect their health and allow activity to resume quickly as health conditions will allow, the Group's corporate officers have taken the initiative to lower their remuneration.
The majority of the Group's corporate officers have therefore decided to lower their remuneration by 15%, in order to align their remuneration with their most affected employees during the period of significant partial activity.
In addition, Raphaël Gorgé, Chairman and Chief Executive Officer of Groupe Gorgé and Guénaël Guillerme, Chief Executive Officer of ECA Group, have decided to reduce their remuneration by 50% during the confinement period. The savings will be donated to support family associations of the French and Belgian armies, Group customers and key support of the civil society during this period.
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Forward Looking Statement
Groupe Gorgé press releases may contain forward-looking statements regarding Groupe Gorgé's targets. These forward-looking statements reflect Groupe Gorgé's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group operates and notably the 3D printing division; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws, regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; manufacturing and supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.). Some of these risk factors are set forth and detailed in our Universal registration document (including the annual financial report filed with the French Autorité des Marchés Financiers), available on our website www.groupe-gorge.com. This list of risks, uncertainties and other factors is not limitative. Other unanticipated, unknown or unforeseeable factors, such as changes in the economic situation or financial markets, could also have a material adverse effect on our targets.
This press release and the information it contains do not constitute an offer to sell or to subscribe, or a solicitation to purchase or subscribe shares or securities in Groupe Gorgé or in its listed subsidiaries in any country whatsoever.