Prysmian Honored at GEO Awards 2024 for its Employee Share Ownership Plans

Categories : Corporate 

Highland Heights   -   11/04/2024 - 09:00 AM

Prysmian was recognized for “Best use of Employee Share Plans in an Emerging Market” at the 2024 GEO Awards, presented each year by Global Equity Organization. Prysmian received recognition for its share ownership plan, BE IN, part of the Value4All program, underscoring its commitment to offering profit-sharing plans for its employees.

“We are extremely proud to be recognized at the GEO Awards 2024, as this confirms our commitment to aligning the interests of all our stakeholders — from employees to shareholders — towards the common goal of creating long-term sustainable value,” said Prysmian CEO designate Massimo Battaini. “This award, for the Best use of Employee Share Plans in an Emerging Market, further validates our efforts for sharing value with our people and for achieving a truly inclusive governance, with at least 50% of our employees as shareholders by 2027.”

Profit sharing has been part of Prysmian’s DNA since 2013, when the company launched the first share purchase plan for employees, YES (Your Employee Shares), to promote value creation and profit sharing among Prysmian employees and participation in company share ownership. The Value4All plan includes three remuneration and incentive plans created to ensure utmost inclusion based on the participants’ geographical, organizational, or local diversity.

Prysmian aims to have at least 50 percent of its employees (including non-desk workers) become company shareholders by 2027. In 2023, 13,400 employees (46 percent) were company shareholders, for a total of over 13,400 people. To strengthen its inclusion strategy, in 2022 Prysmian launched the BE IN plan, which for the first time included non-desk workers at Prysmian’s plant locations to a share ownership plan.

For over twenty years, the GEO Awards have honored companies in all sectors that stand out for their leadership and commitment, with the aim of helping them improve and evolve their share ownership plans, as to share expertise, tools, and best practices. Winning companies are recognized for excellence in designing, communicating, or offering programs that allow employees worldwide to participate in their company's share plan.

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