In the future, Kering will enable its employees to participate in the company through a special program. The French luxury goods group announced on Wednesday that the ‘KeringForYou’ program is intended to show appreciation to employees.
“The launch of this employee share program is a sign of recognition for the efforts of our employees and for their commitment to our corporate culture. It reflects my confidence in their commitment and in the future of Kering,” says Kering CEO Francois-Henri Pinault. “Kering’s extraordinary success over the past few years rests on each individual employee, on their ability to push their boundaries and on their will to contribute to the creation of modern, authentic and responsible luxury.”
Employees in France, Italy, Great Britain, the USA, mainland China, Hong Kong, Japan and South Korea can in future participate as shareholders in Kering. There is a maximum number of 200,000 shares up for grabs, which is approximately 0.16 percent of the company’s total share capital. The price is based on “the average value of the opening price of Kering shares on Euronext Paris over the twenty days prior to this decision, minus a discount of 20 percent and rounded up to the nearest euro cent.”
In 2019, Kering had already issued a parental leave policy of almost three and a half months of paid leave for each parent. Kering sees these decisions as “a way to engage employees in the group’s values and performance in a long-term manner.”
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