The Annual General Meeting: a key moment in shareholder democracy

The Annual General Meeting (AGM) is a major milestone in the life of Societe Generale, bringing together all shareholders – both individual and institutional investors – so they can exercise their voting rights and influence the Group’s operations and future.

The next Annual General Meeting will be held on 27 May 2026.

Why is an Annual General Meeting held? What forms can it take? What role do shareholders play? Patrick Suet, the Secretary of the Board of Directors, provides insights.

A clear and structured legal framework

Chaired by Lorenzo Bini Smaghi, Chairman of the Board of Directors, the Annual General Meeting is a mandatory step for any listed company. Held each year within five months of closing the books, the Annual General Meeting enables shareholders to:

• approve the parent company and consolidated financial statements, the allocation of earnings, and the dividend;
• vote on the compensation policies of the chairman of the board, the chief executive officer, and the directors;
• approve the renewal or appointment of directors, as well as the appointment of the statutory auditors.

Other legal decisions may also be put to the vote, such as authorizations for share buy-back programs. Capital transactions, by contrast, fall under the remit of an Extraordinary General Meeting (EGM).

A privileged forum for dialogue with shareholders

Beyond its legal framework, the Annual General Meeting is a key for Societe Generale to engage in dialogue with its shareholders. “At the Annual General Meeting, shareholders can ask any questions they have about the Company. The chairman and senior management are required to answer them,” Patrick Suet reminds us.

Questions may be:

• oral, asked during the meeting, without moderation, including anonymously;
• written and submitted ahead of the Annual General Meeting, with responses published prior to the meeting.

Even though some topics are not subject to a formal vote, they are playing an increasingly important role in discussions. This is the case with climate strategy, for example, which is presented and discussed at the Annual General Meeting due to its strategic significance.

Why every vote matters

All shareholders, whether institutional or individual, are encouraged to participate in the voting process. While institutional investors traditionally demonstrate participation, engaging individual shareholders remains a key challenge.

“Individual shareholders sometimes feel that their vote has little impact. Yet every vote counts,” Patrick Suet emphasizes.

Beyond the financial dimension, being a shareholder means taking part in the company’s key strategic decisions and its governance, with a long term perspective.

A key event in the Group’s governance

The Annual General Meeting is more than just an institutional gathering; it is a cornerstone of shareholder democracy, dedicated to informing shareholders, fostering dialogue and exercising voting rights.