Shareholders Approve GEA’s Climate Transition Plan 2040
Image source: GEA Group Aktiengesellschaft
This consultative vote makes GEA the first member of the DAX index family to ask shareholders to approve its path to net zero. 98.44 percent voted in favor of the plan.
“I am very pleased that our shareholders have decided to accompany us on our journey to a sustainable future. Climate action calls on all of us to pull together to achieve the progress so urgently needed for our planet. This is not only mission-critical for GEA’s long-term business success, but also vital for future generations. That is why transparency and maintaining an open dialog with our shareholders are a priority for us,” says CEO Stefan Klebert.
GEA’s Climate Transition Plan 2040 sets out the short, medium and long-term targets for reducing greenhouse gas emissions at every link in the value chain. It also specifies timings, action areas and the investments required. The path to net zero emissions by 2040 focuses on three core areas: transformation of the company’s own operations (Scopes 1 and 2), product portfolio transformation (downstream Scope 3) and supply chain decarbonization (upstream Scope 3).
GEA intends to ask the Annual General Meeting to vote on the development of the Climate Transition Plan every three years, and will report in its annual sustainability report on the progress made.
Annual General Meeting confirms new Supervisory Board members
At the virtual Annual General Meeting, the shareholders elected Andreas Renschler und Prof. Dr.-Ing. Axel Stepken as first-time shareholder representatives of the Supervisory Board. Both appointments have been made until the conclusion of the Annual General Meeting in 2027, which resolves on the ratification of fiscal year 2026.
Industrial engineer and business graduate Andreas Renschler has served on the Supervisory Board since September 1, 2023. Following his appointment by the Düsseldorf Local Court, his Supervisory Board membership has now been confirmed by the Annual General Meeting. The former member of both the Volkswagen AG and Daimler AG Boards of Management is the current Chairman of the Supervisory Board of Hella GmbH & Co. KG a. A. Andreas Renschler also lectures in management accounting as an adjunct professor at the Technical University of Munich.
Prof. Dr.-Ing Axel Stepken succeeds Dr. Jens Riedl, Investment Partner at Groupe Bruxelles Lambert (GBL). Axel Stepken has served as CEO of TÜV SÜD Stiftung since 2007 and is an honorary professor at the Technical University of Munich.
All other proposals also approved by a large majority
The shareholders also approved the other resolutions proposed by the Supervisory Board and Executive Board by a large majority. These included the distribution of a dividend of EUR 1.00 (previous year: EUR 0.95) per share. This means GEA has increased the profit distributed to shareholders for the third consecutive year. The further improvement in operating earnings achieved as part of the “Mission 26” growth strategy made this possible. The Annual General Meeting also approved the Supervisory Board proposal to appoint PricewaterhouseCoopers to take over the audit tasks performed by the previous auditor KPMG, with effect from 2024, in accordance with the legal requirements regarding auditor rotation.
Source: GEA Group Aktiengesellschaft
