Change in corporate name
Since May 22, Schneider Electric Industries Société Anonyme will be a joint-stock company.
Consequently, the company name will change from Schneider Electric Industries SA to Schneider Electric Industries SAS.
A Société par Actions Simplifiée (SAS) is a type of company that was recently introduced into our legislation in 1994. It was initially intended to give companies a flexible cooperative structure, allowing for management of joint subsidiaries. It was therefore reserved for legal entities, and more particularly, for large companies. Only companies with capital stock in excess of FRF 1.5 million could become partners in an SAS. In1999, the legal framework for an SAS was extended. It now allows all legal entities and natural persons to be associated. The structure's flexibility has proven to be very well adapted to companies not taking their stock public.
The idea underlying this reform was to make the SAS the common law statutory form, and to make the SA the statutory form of companies taking their stock public.