4.2.3. The Compensation Committee
- A majority of members are independent,
- The Compensation Committee has the expertise necessary to perform its mission,
- The Chairman of the Executive Committee is invited to meetings, except in the case of matters that concern him personally,
- The Secretary is Mr. Michel Defourny, Group Corporate Secretary.
- Meetings are prepared by the Group General Manager Human Resources, who attends the meetings,
- One meeting was held in 2017,
- Meeting attendance was 83.3%.
The Compensation Committee fulfills the duties imposed on it by Article 526 quarter section 5 of the Companies Code.
It advises the Board of Directors on:
- the Company’s compensation policy and principles,
- the compensation levels for members of the Board of Directors and the Executive Committee,
- the Chairman of the Executive Committee’s compensation, short-term incentives and long-term incentives, and performance assessment
- Allocation of long-term incentives (performance share units and stock options) to the Company’s senior manager.
It prepares the annual compensation report for the Corporate Governance Statement and receives a yearly report about the compensation of General Management.