Bel becomes a mission-led company by law and initiates an international employee shareholding plan 29/05/2024

By adopting the status of a mission-led company by law, the Bel group and its family shareholders are reaffirming their long-term vision, in which profitability and responsibility are intimately linked. This milestone is a testament to over two decades of commitment, which firmly establishes a pioneering model of sustainable growth, as well as the vision driven and implemented by Antoine Fiévet, Bel’s Chairman, and Cecile Béliot, Chief Executive Officer.

With this new step, Bel is reaffirming and enshrining its purpose in its statutes: by providing access to healthier and more sustainable food for all, Bel is working to develop a food model that respects the planet’s natural resources, benefits its entire ecosystem, and enables it to act for the generations of today and tomorrow.

Social and environmental objectives, in line with the sustainable strategy pursued by Bel for the past 20 years, and a mission committee will also be set up.

At the same time as adopting the status of a mission-led company by law Bel is launching ‘We Share’, its international employee shareholding plan. Launched in April 2024 in France, it will be rolled out in the United States, Canada and China by the end of the year, and reach the group’s other subsidiaries in 2025 and 2026.This approach reflects the commitment of Bel, its family shareholders and its management team to include all employees in sharing the value they create. ‘We Share’ is the deployment of Bel’s family model to the primary contributors to its success, its employees.

The group is thus embarking on a long-term process to build a strong employee shareholder base and strengthen the organization’s foundation. The plan is designed for employees at all levels of the group, with guaranteed minimums and promising appreciation prospects, targeting both security and performance.

 The launch in France has shown very positive initial results. In the initial subscription period, over 40% of eligible employees have pre-allocated their profit-sharing and bonus into the “We Share” program, which is at the top end range for this type of operation. The formal subscription phase will begin in mid-June.

Antoine Fiévet, Chairman of the Bel group: « The mission-led company by law status is a continuation of what we’ve built up over the last few years. It reinforces Bel’s purpose and reflects our willingness to participate actively and in a sustainable way to a food model that is respectful of people and nature. Our employee shareholding plan, another essential step forward, is a commitment that is particularly close to my heart. Our employees are at the heart of our value creation, and our aim is to share with them the value we create over the long run. »

Cécile Béliot, Chief Executive Officer of the Bel group: « The transition to the Mission-led company by law is an achievement that ensures the sustainability of Bel’s approach. For 20 years, we have been deploying our profitable and responsible model without giving up, particularly in the last few years, which have been under great pressure. Becoming a Mission-led company anchors this vision in our statutes for the future, and it fits in perfectly with the launch of our ‘We Share’ plan. Inviting our employees to become Bel shareholders is an important step in our ambition to share value over the long term. The high level of participation by our employees in France shows their confidence and commitment, as well as their desire to contribute to our future success, and I would like to thank them for this. This reinforces our determination to successfully implement our strategy and mission. »

 An indicative calendar outlines the next steps in the launch of “We Share”:

Next steps in the calendar include the launch of We Share in:

• June 2024 in Canada and the United States;
• September 2024 in China ;
• And from 2025/2026 in other countries.