PARIS, April 7, 2014 (GLOBE NEWSWIRE) -- On 26th March, CGG's Board of Directors, on the recommendation of the Appointment-Remuneration Committee, decided that each CGG director shall from now on own 5,000 shares or ADSs in the Company, i.e. the equivalent of a director's annual fees. The Board of Directors' internal regulations will be changed accordingly.
The directors have a period of two years to purchase these shares.
In addition, the Company's Chief Executive Officer, Jean-Georges Malcor, has already invested an amount corresponding to his estimated 2013 net variable remuneration in the purchase of 12,000 shares in the Company.
CGG ( www.cgg.com ) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business divisions of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs over 9,800 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.
CGG is listed on the Euronext Paris SA (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares. NYSE: CGG).
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