BDC

Bouygues Plans for the Future

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With the recent decision for Bouygues’ Head of France to lay down the foundations of the next generation of the company, with the planned appointment of two new, more youthful members of the family to the board, it would appear that the company continue its position as a family-led, family-run and family-focused organisation.

The proposal, to come from Martin Bouygues, the man behind the Bouygues name since 1989, will incorporate the appointment of his son, Edward and nephew, Cyril to the board after the close of an upcoming shareholder meeting. With the approval of the appointment this would see the board expand in size from fourteen to sixteen members which would help to rebalance the family to employer representative ratio; in total, this would split the board into four sets of family members and four of employee representatives.

In total, the company’s workforce presently holds a 21.4% stake in Bouygues, with 28.6% of the voting rights also. On the other hand, SCDM, the family holding under the Bouygues name presently holds a 20.4% stake and approximately 27.9% of the voting rights.. And not only will the change see some movement in the balancing of the board, but it is also to see an increased amount of responsibility placed on the new members and prepare them for his eventual retirement.

The plans also come at the same time as the company, which also holds ownership France’s TF1, the largest private broadcaster in France, is also looking to sell its telecoms division to Orange, reshaping the very landscape of the French landscape. Nodding to this, Martin Bouygues commented on the discussion looking to take a number of weeks, though there is also no guarantee of the deal having a successful outcome as of yet. Additionally, he commented that the deal would need for him to confirm a 10% stake in Orange for Bouygues, if it is to go ahead.

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BDC 301 February 2023