The shareholders' newsletter #66 - Summer 2021

Event : Looking back on the Shareholders' Meeting


Looking back on the Shareholders' Meeting

Total is becoming TotalEnergies

At the Shareholders’ meeting, shareholders approved the resolution to change the company’s name from Total SE to TotalEnergies SE, the company of responsible energies. With the change in name goes a new visual identity, with a new dynamic logo, in motion, to illustrate the energy transition, multi-colored to express the plurality of energies, energizing and intimate, to express the commitment of TotalEnergies to nurturing close relationships with all of its stakeholders. The new name and new logo explicitly state what TotalEnergies wants to be: a leader engaged in reinventing energy and addressing the double challenge of more energy and fewer emissions for the world’s population.

Logo TotalEnergies

Board of Directors

Renewal of terms of Directors

The terms of Mr. Patrick Pouyanné and Ms. Anne-Marie Idrac were renewed for a three-year period. The Board of Directors decided to renew the terms as Chairman of the Board and as Chief Executive Officer of Mr. Patrick Pouyanné, for the duration of his new term as Director i.e., until the Shareholders’ Meeting of 2024, at its meeting that was held on May 28, 2021 following the Shareholders’ Meeting.

Two new Directors

In view of the rules on directors’ independence, the Board decided not to propose the renewal of the term of Mr. Patrick Artus, a renowned economist, appointed in May 2009. The Board thanked Mr. Patrick Artus for the quality of his contribution to the work of the Board of Directors and its Committees. In order to keep an economist on the Board and to strengthen the presence of international profiles within its ranks, Mr. Glenn Hubbard, an American economist, and Professor of Economics and Finance at Columbia University, has joined the Board of Directors for a period of three years. Mr. Jacques Aschenbroich, Chairman and Chief Executive Officer of Valeo, was also appointed as Director for a period of three years. Mr. Jacques Aschenbroich will bring to the Board his knowledge in transportation, a key sector in terms of evolution in energy demand, and his experience at the head of a large industrial company.

Mr. Jacques Aschenbroich
Chairman and Chief Executive Officer of Valeo

Mr. Glenn Hubbard, 
American Economist


Increase in the weight of ESG criteria in the remuneration of the CEO and Directors

The weight of the criteria relative to the company’s transformation strategy in the variable remuneration of the Executive Officer has been stepped up. All the ESG (Environmental, Social and Governance) criteria now represent 39% in the variable remuneration of the Chairman and Chief Executive Officer. Moreover, consistent with the carbon neutrality ambition of TotalEnergies, a new criterion regarding the reduction in indirect (Scope 3) emissions related to the use of the Company's energy products by its customers in Europe has been introduced and will account for 15% of the conditions for allocating performance shares to the Chairman and Chief Executive Officer and to the 11,000 employees who benefit from this allocation plan. Overall, all the ESG criteria represent 30% of allocation criteria.