Clément Fayat Foundation formed

The Fayat Group has formed the Clément Fayat Foundation.
Finance & Funding / December 11, 2020 1 minute 10 seconds Read
By MJ Woof
The family-owned Fayat Group, headed by CEO Jean-Claude Fayat has established a foundation to support health, education and heritage
Clément Fayat, the founder of the group Fayat in 1957, and his sons Jean-Claude and Laurent, have come together to establish the Clément Fayat Foundation. The aim of this Foundation is to conduct or support philanthropic works and causes in three sectors: health; education; heritage.

For the health sector, the foundation will contribute to research and innovation in the fight against neurodegenerative diseases. The aim is to contribute to research and innovation, providing funding for establishments pursuing this aim, as well as establishing partnerships with research organisations and funding conferences.

The focus on education will be for training in the construction industry, providing support for people and in particular those who are most in need. This will provide support for retraining projects for group employees or their family members in the building and public works sector.

For heritage, the aim will be for the rehabilitation and renovation of historical monuments and historic buildings, both locally and nationally. In particular this will deliver support for the enhancement and restoration of built heritage and monuments.

The Clément Fayat Foundation is recognised as being in the public interest by Decree of the Interior Ministry, after examination by the Ministry departments and approval of the Council of State.

The Clément Fayat Foundation will also provide a public interest shareholding with an open-ended duration. Thanks to its shareholding status, the Clément Fayat Foundation holds a portion of Fayat Group capital. Its resources come mainly from the Group’s operational activities and will guarantee the financial independence that is essential to the execution of its missions. Each employee contributes to the success of the Foundation’s operations as a result. A representative of the State will oversee the proper management of the Foundation’s funds. Among the 2,300 foundations of various status based in France (including public interest, corporate, university and scientific cooperation foundations), only four are public interest shareholding foundations. This is an innovative type of structure which meets the wishes of donors to ensure the longevity of the Foundation's actions, with the system of equity security endowment demonstrating this long-term engagement.

This form of stable, long-term, public interest shareholding also guarantees the independence of the Group, without affecting the management of the Group's operational activities. The Foundation is built on the values that have driven the Fayat family for more than 60 years.
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