Composition:

  • The majority of members are non-executive independent directors;
  • The Compensation Committee has the expertise necessary to perform its mission;
  • The Chairman of the Executive Committee is invited to each meeting, except in the case of matters that concern him personally;
  • The Secretary is Mr. Michel Defourny, Group Corporate Secretary.

Meetings:

  • Meetings are prepared by the Group General Manager Human Resources, who attends the meetings;
  • Three meetings were held in 2018;
  • Meeting attendance was 100 %.

Activities:

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;
  • The determination of the new CEO's compensation package, including short-and-long term incentives;
  • The allocation of long-term incentives (performance share units and stock options) to the Company’s senior management.

It prepares the annual compensation report for the Corporate Governance Statement and receives a yearly report about the compensation of General Management.