Total’s board of directors has approved two measure to develop employee shareholding within the company.
The French oil major, which reported a 30% drop in profits, said it has increased its annual capital reserved for staff from next year.
It means Total employees will be offered the chance to purchase shares at a discount of up to 20% every year instead of every two to three years.
In addition, in 2017, for the first five shares purchased by an employee, they will receive a matching grant of five free shares.
Patrick Pouyanne, chief executive of Total, said: “Developing employee share ownership is, in our view, the best response to the debate regarding shareholder return and employee compensation. It aligns the interests of both with the collective interests of the company.
“Total also benefits from a stable core of shareholders made up of employees, who are represented on the Board of Directors by a member elected from among those proposed by the employees. Our performance share program is the largest among CAC 40 companies, with more than 10,000 non-executive participants each year since 2015.”
Total also said the number of free performance shares awarded this year is increased by close to 20% from last year.
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