Dubai, United Arab Emirates - May 22, 2019: The Schneider Electric Worldwide Employee Share Ownership Plan (WESOP) won the award for ‘Best Plan Effectiveness' last week at the Global Equity Organization (GEO) annual meeting in The Netherlands. GEO is an international network meeting for professionals of equity plans, such as WESOP or Long-Term Incentive Plans.
WESOP is one of the Group key annual Rewards Programs, open to employees across 38 countries, that gives employees the opportunity to become shareholders of Schneider Electric by subscribing to shares at a 15% discount of the reference price, supported by employer matching contributions where applicable.
The awards category was designed to highlight companies that “spent time and resources developing share plans that work well towards meeting corporate objectives.” The judging panel said the award was recognition for the scheme defining “very specific measures during a campaign that reflect the value and trust Schneider Electric's employees place in the company.”
Karine Armand Fedida, Senior Vice President Rewards at Schneider Electric said: “We are very proud that WESOP has been recognized by GEO – it's one of the ways, as part of our Global Rewards strategy, that we align with our Core Values. WESOP gives employees in the participating countries the opportunity to Act Like Owners and contribute to playing a part in our future success.”