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Human Resources ORGANIZATIONAL FLEXIBILITY ADAPTED TO THE SPECIFIC REQUIREMENTS OF THE AUTOMOBILE INDUSTRY Responding to the diversity of the automobile market and meeting customer demand involves constant adjustments in working hours and organization. These adjustments are carried out with careful regard for the expectations and requirements of employees. NEGOTIATING NEW ORGANIZATIONAL ARRANGEMENTS Two new vacation systems adapted to production requirements have been negotiated with unions in France and the rest of Europe. A key to enhancing flexibility and competitiveness, non-stop operation was introduced at the Mulhouse facility and the mechanical component plants in 2001, then applied at the Ryton and Vigo plants in 2002. To meet strong demand, a fourth shift was introduced at Ryton in August, enabling the hiring of nearly 800 people, while the negotiated implementation of new working hours at Sochaux in May led to the creation of a Friday-Saturday-Sunday shift. In most host countries, working hours are now calculated on an annual basis. IMPROVING SAFETY AND WORKING CONDITIONS • Improving working conditions and ergonomics Programs are underway in every Division and manufacturing project to improve workstation ergonomics, in a commitment to attenuating physical and environmental impairments and broadening access to the largest possible number of operators. A dedicated method for assessing workstation strain called METEO or “Méthode d’Evaluation du Travail et des Organisations”is being used by project teams across the manufacturing base. This innovative process underscores the Group’s dedication to improving working conditions through a realistic approach designed to enhance efficiency and preserve operator health. • Constant concern for operator safety and protection from bodily injury As part of the Group’s commitment to managing workplace risks, employees, managers, employee representatives, medical staff and specialized outside consultants are all helping to improve working conditions, safety and risk prevention. In every country, risk assessment procedures are applied to installations, workstation components, infrastructure, production processes, employee movements and professional equipment. Employees also receive safety training designed to attenuate workplace risks. • A commitment to occupational healthcare In France, the Group’s occupational medical offices examined 112,000 employees and received 283,000 infirmary visits. Based on exam results, actions were taken to protect the concerned employee’s health, for example, by reconfiguring the workstation or ordering more tests to detect or cure certain illnesses. The medical offices regularly conduct training and employee information sessions in areas like movement and posture and food hygiene. They are also involved in reassigning impaired or disabled employees or reconfiguring their workstations. OFFERING THE DISABLED FULFILLING JOB OPPORTUNITIES While helping to prevent disabilities in the first place, Group policies are designed to 68 PSA PEUGEOT CITROËN - MANAGING BOARD REPORT
Growth Strategy Corporate Governance Business Review Corporate Policies Management’s Discussion and Analysis Statistics GEFCO ARGENTINA: PROCEDURES TO ENSURE EVERYONE’S SAFETY At Gefco’s Argentina operations, health, safety and environmental issues are handled by a process based on the BVQI ISO 9000:2000 quality management system. An independent expert specialized in industrial safety and health analyzes every aspect of the business to detect any anomalies or potential risks, while assessing the need for personal protective equipment (PPE). In addition to measures designed to guarantee the best possible working conditions, such as studies to determine heat load, noise volume and light intensity, employee training courses have been organized in such areas as manual loading, PPE, fires and accident prevention, forklift operation, and evacuation and first-aid drills. Medical examinations are also regularly performed to prevent and detect any physical problems due to occupational activities. enable the disabled to make a contribution to society, by providing them with job opportunities and supporting their career development. In France, the agreement on jobs for the handicapped signed with employee representatives on March 17, 2000 demonstrated the Group’s commitment to pursue programs underway to hire and retain disabled employees and to configure workstations to enable their operation by the handicapped. These programs are being implemented in partnership with AGEFIPH, which manages funds for hiring the handicapped, and ANACT, the national agency for improving working conditions. Disabled workers are involved in the Group’s automobile manufacturing business through partnerships between the production plants and work-based assistance centers and sheltered workshops. Worldwide, the Group directly employs nearly 5,300 disabled people. In France, including sheltered workers under contract, 9.28% of employees are classified as handicapped, compared with the legally required 6%. PROVIDE COMPENSATION LINKED TO GROUP EARNINGS AND ENCOURAGE INDIVIDUALLY- FUNDED PENSION PLANS In all businesses worldwide, compensation policy is designed to offer competitive compensation and to share value with those who help create it. SIGNING WAGE AGREEMENTS IN ALL UNITS The Group’s wage policy led to the signing of a large number of agreements in most countries in 2002. In France, the wage agreement signed by five unions on January 28 reflected a commitment to raising the lowest salaries and increasing the annual guaranteed minimum wage. In 2002, compensation paid worldwide totalled €4.466 millions, while employer taxes and social security contributions amounted to €1.700 millions. 1. REWARDING INDIVIDUAL MANAGER PERFORMANCE A manager’s compensation depends on individual performance, the ability to carry out his or her responsibilities and local salary levels. Pay for performance reflects a commitment to ensuring consistency across the organization while retaining the possibility of assessing and rewarding individual achievement. Performancerelated annual bonuses paid to senior executives depend on their ability to meet personal targets, as well as corporate operating margin and quality targets set at the beginning of each year. PMTC SIGNS AN AGREEMENT WITH AGEFIPH In 2002, Peugeot Motocycles initiated an extensive project to renovate its production facilities in Mandeure, France. One part of the project focused on improving workstation ergonomics and the employability of persons with disabilities. An agreement signed in July with AGEFIPH will reserve jobs for 30 people certified by a government commission as handicapped. AGEFIPH is helping to fund the workplace audit, the project’s handicapped-related aspects, and the reconfiguration of the workstations. Workstations have been created or reconfigured on the assembly line, as well as in the purchasing office and the preparation room. The process is continuing in 2003, with the Mandeure facility employing 80 people certified by a government commission as handicapped. (1) Paid in the Automobile Division, the finance companies, the Transportation and Logistics Division and other businesses, excluding Sevelnord and Française de Mécanique. PSA PEUGEOT CITROËN - MANAGING BOARD REPORT 69
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2002 ANNUAL REPORT
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K ey figures Worldwide sales Automo
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Contents 2 A Tribute to Pierre Peug
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A Tribute to Pierre Peugeot Our Gro
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M essage from the Chairmen is alrea
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plan defined by the Managing Board.
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10 Growth Strategy 16 Corporate Gov
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Growth Strategy 12 • One Group, t
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Growth Strategy Corporate Governanc
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Page 21 and 22: Corporate Governance 18 21 22 • T
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Statistics PSA PEUGEOT CITROËN - M
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Appendices to the Managing Board Re
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C onsolidated statements of income
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C onsolidated balance sheets - Liab
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C onsolidated statements of stockho
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➔ Note 1 - Accounting policies Th
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No reserve is booked for taxes paya
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2. Effect on stockholders’ equity
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Allibert’s non- automotive busine
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2000 (in millions of euros) Automot
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➔ Note 5 - Key financial data for
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➔ Note 12 - Operating expenses -
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➔ Note 15 - Intangible assets Int
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Unrealized gains on restricted stoc
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➔ Note 21 - Inventories Inventori
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➔ Note 25 - Short-term income tax
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g) Capital in excess of par value o
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➔ Note 34 - Other long-term borro
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2. Short-term portion (in millions
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➔ Note 42 - Net financial positio
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1. Automobile division An early-ter
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- Changes during the year (in milli
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The entire debt is converted to flo
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2. Maturities of hedging instrument
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➔ Note 50 - Commitments and conti
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2. Effect of debenture conversions
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F ive-year consolited statement of
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F ive-year consolidated balance she
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C onsolidated companies as at Decem
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Company Percent Percent F/E control
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Recruitments (1) 2 4 Disabled emplo
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7 Paid leave other than vacations E
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Consumption Peugeot 607 Fuel Displa
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E nvironmental Indicators Productio
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Waste production PEUGEOT CITROËN A
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M anagement and Administration Main
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I nformation about the company’s
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S tatutory Auditors’ Report on th
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➔ Stockholders’ Meetings (Artic
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PEUGEOT S.A. 100% AUTOMOBILES CITRO
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S tockholder Information (Euronext
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F inancial authorizations in effect
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216 PSA PEUGEOT CITROËN - INFORMAT
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R esolutions Eighth resolution Auth
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T he Vice Presidents Committee Thie
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12,000 copies of this report were p
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