Thirteen Directors, of whom seven are independent (AFEP MEDEF code), and one Non-voting Advisor. All are eminent personalities contributing a broad range of complementary skills and experience.
The Board of Directors has set up three committees:
The Strategy Committee:
- Reviews the financial and business aspects of the major strategic and growth objectives being pursued by Group companies. It pays particular attention to ensuring that the product and its development remain closely aligned with the Company’s corporate image and spirit.
- Analyzes the three-year plan presented annually by the Chief Executive Officer.
The Audit Committee:
- Reviews the annual and interim Company and Group financial statements, together with the related reports.
- Ensures that these financial statements are consistent with other information available to the Committee.
- Audits internal reporting and control procedures and ensures that the accounting policies used to prepare the financial statements are appropriate and have been applied consistently from one period to the next.
- Reviews recent regulatory developments and their impact on the financial statements.
- Analyzes risks and the Group’s internal audit process.
The Nominations and Compensation Committee:
The roles and responsibilities of the Nominations and Compensation Committee are to:
- Review candidates for election to the Board – either under its own initiative or at the request of the Board – based on the candidates’ skills, business experience, and economic, social and cultural background.
- Review candidates for the position of Chief Executive Officer and Executive Vice-President.
- Review the membership structure of Board Committees and make related recommendations.
- Propose methods for setting the variable remuneration (according to individual performance and company results), fixed remuneration (according to individual performance and market information) and benefits for the Chairman of the Board, the Vice-Chairman and the CEO and, where necessary and at the suggestion of the Chairman, for the Executive Vice-Presidents.
- Review proposed stock option plans and stock grant plans for the management and employees of the Group (including corporate officers).
- Propose methods to the Board for calculating the overall performance of the Company in order to determine the Company’s achievement percentage for bonuses.