The Board of Directors consists of thirteen members, six of whom being considered as independent under the criteria set by the internal regulations of the Board of Directors and by the AFEP-MEDEF Code, i.e. a 55% independence rate at 31 December 2018.
The directors shall serve for a term of office of four years.
The Board of Directors is chaired by Thierry Le Hénaff, Chairman and CEO.
The Board of Directors determines the strategic guidelines governing the Group’s activity and oversees their application.
To this end, it:
- reviews strategic developments in the Group,
- monitors their implementation and management,
- takes decisions regarding major transactions,
- monitors the quality of information supplied to shareholders and the markets,
- ensures the quality of the Board of Directors’ operations.
Organization of work
The Board of Directors met six times in 2018.
The average attendance rate for all directors at these meetings was 97%.
Some subjects are submitted for prior review to one of the two specialized Committees before being presented to the Board of Directors for approval such as:
- the review of financial statements, the examination of internal control procedures, the activities of internal and external audit, as well as financial transactions by the Audit and Accounts committee,
- the composition of the Board of Directors, the compensation policy, the employee share ownership schemes, and corporate governance principles by the Nominating, Compensation and Corporate Governance committee.
Finally, the Board holds an annual seminar dedicated to the Group's strategy and the follow-up of the main operational priorities.