Board of Directors
Composition
The Board of Directors consists of fourteen members, eight 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 73% independence rate at 11 May 2023.
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.
Duties
The Board of Directors determines the strategic guidelines governing the Group’s activity and oversees their application. It promotes long-term value creation by the Group for all of its stakeholders, taking into consideration the social and environmental implications of its businesses.
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 ten times in 2022.
The average attendance rate for all directors at these meetings was 91%.
The Board of Directors has set up three specialized Committees:
the Audit and Accounts Committee, which in particular reviews the financial statements, examines internal control and risk management systems, monitors the process of preparing non-financial information, and oversees internal and external audit assignments,
the Nominating, Compensation and Corporate Governance Committee, which in particular examines the composition of the Board of Directors, the compensation policy, the employee share ownership schemes, and corporate governance principles,
the Innovation and Sustainable Growth Committee, tasked with assessing the contribution of Arkema’s innovation and strategy to environmental challenges and sustainable growth.
Finally, the Board holds an annual seminar dedicated to the Group's strategy and the follow-up of the main operational priorities.
Documentation
Bylaws