Launched the new YES stock ownership plan

Prysmian has launched the new Group stock ownership plan for its employees worldwide

CEO Valerio Battista met with 300 key managers today in Milan 

The plan involves 20,000 employees in 50 countries 

40% of Group employees are already investors. Target: 1.5% of share capital held by employees 

Milan, 27 September 2016 – Prysmian Group has launched a new long-term stock ownership plan for its employees. The YES (Your Employee Shares) Plan was presented today by Prysmian Group CEO Valerio Battista, at an event held in Milan at the office of Borsa Italiana that brought together 300 managers from all around the world acting as “ambassadors” for the Plan to their respective countries. 

The Plan, now in its fourth consecutive year, has already met with considerable success within the company and to date over 40% of the Group’s approximately 20,000 employees in 50 countries have become investors of the company. “Our goal,” Valerio Battista explained, “is to increase the share capital held by employees up to 1.5% by the end of this edition, in the second three-year period. For a public company like Prysmian, aligning the interests of its shareholders and employees is of fundamental importance,” Battista concluded.

“Yet, what we wish to offer our employees,” added Fabrizio Rutschmann, Senior Vice President Human Resources & Organization, “is not primarily a financial investment opportunity. Our goal is to promote engagement and the awareness that we are all working towards a common goal, which creates value for the benefit of all of the company’s internal and external stakeholders.”

The three-year YES plan offers employees the opportunity to buy Prysmian shares at a discount of up to 25% on market price. In order to favour the majority of employees, the discount for top managers is only 1%, whereas it is 15% for managers. The plan also calls for bonuses in the form of eight free shares for those who have already participated and decide to renew their commitment. In addition, starting this year employees from Argentina, Indonesia, Côte d'Ivoire, Philippines, New Zealand and Tunisia can participate in the programme.

YES is one of the various programmes aimed at the Prysmian Group’s employees as part of its constant efforts to promote policies that seek to develop and train its human resources and put the Company at the forefront of people value management. The Group also recently launched the new edition of Build The Future, a programme aimed at recruiting talented young new graduates from all around the world with the goal of selecting and recruiting about 40 high-potential individuals, in addition to the approximately 200 resources already recruited in previous years.