SGS Publishes Invitation and Agenda for 2024 Annual General Meeting

SGS publishes the invitation and agenda for 2024 Annual General Meeting, which will be held on Tuesday March 26, 2024.

• Presentation by Géraldine Picaud, new Chief Executive Officer (CEO) of SGS, of Strategy 2027: Accelerating growth, building trust
• Approval of an optional scrip dividend of CHF 3.20 per share to be received in the form of shares or in cash
• For the first time, approval of the 2023 report on non-financial matters, as SGS continues to lead the way in corporate sustainability
• Other statutory matters described in detail in the AGM invitation

The Board of Directors looks forward to welcoming shareholders of SGS SA in person to the Annual General Meeting taking place on March 26, 2024, at 2:00 pm CET at the Fairmont Grand Hotel in Geneva, Switzerland. It will be held in French and partially in English, translated simultaneously into German, English and French and broadcasted live at SGS 2024 Annual General Meeting of Shareholders.

Management changes and new strategy

Following the announcement made on January 26, 2024, Géraldine Picaud will become the new CEO of SGS at the Annual General Meeting. The Board is extremely pleased to welcome Géraldine, an inspiring leader with impressive experience and track record, to the helm of SGS. She is perfectly placed to lead the Group and has the Board’s confidence in driving our upcoming phase of growth and profitability.

Frankie Ng will step down as CEO and at the Annual General Meeting we will take the time to express our gratitude for his leadership over the past nine years.

At the Annual General Meeting, Géraldine will present our new Strategy 2027, a solid foundation that will enable SGS to drive profitable growth, streamline the organization, deliver attractive returns for stakeholders and remain the point of reference when you need to be sure. 

Scrip dividend proposal

The Board of Directors proposes the payment of a share or cash dividend, giving eligible shareholders the right to receive either a cash dividend of CHF 3.20 per share or a dividend in the form of shares of the company. Shares to be distributed as dividend will be created by way of a share capital increase, which the shareholders will also be asked to approve and will be valued at a 6% discount to the market value for the purpose of converting the dividend amount into a number of shares. 

The Board of Directors believes that the proposed option to receive the dividend in the form of shares at a discount is consistent with the Company’s plan to retain balance sheet strength and offers eligible shareholders an attractive opportunity to increase their investment in SGS and to participate in the group’s future growth.

Integrated Report

For the first time, in compliance with the new Swiss rules on non-financial reporting and in line with our commitment to continue leading the way in Corporate Sustainability, the shareholders will be invited to approve the company’s report on non-financial matters (article 964 b Code of Obligation). The Board of Directors also proposes the approval of the annual report, the financial statements of SGS SA and the consolidated financial statements of the SGS Group. 

Together, these documents form part of the SGS Group’s integrated report, which covers a larger scope than what is strictly required by legislation and whose format has been updated and improved in 2023 to help stakeholders better understand our strategy, performance, governance and impact on the planet. In addition, the Group non-financial performance has been reviewed independently by our external auditors, to provide assurance on the reported data. 

In 2023, we have been particularly proud to celebrate a decade of outstanding performance in corporate sustainability by securing once again a top spot in the prestigious Dow Jones Sustainability Index for both the World and Europe categories. Going forward, our 2027 sustainability targets will ensure that we continue to lead the way in our contributions to the environment, society and governance.

Board of Directors changes

All Board members are proposed for re-election apart from Shelby du Pasquier, who will step down after 18 years of excellent service. The Board expresses its sincere appreciation to Shelby and thanks him for his relentless support, dedication and contribution over these many years.