2023 universal registration document

2. Corporate governance

General assessment Areas for improvement/Action to be taken/Issues to be addressed
THE COMPOSITION OF THE BOARD
  • Diversity in terms of gender, age, profile and experience.
  • Appropriate size for the quality of the work, discussions and decision-making.
  • Appropriate number of independent Directors (50%), given their profile, considerable freedom of expression and the structure of share ownership.
  • Required expertise well represented with regard to the requirements defined by the Board (see paragraph 2.2.1.2.), particularly experience of general management of large international companies.
  • Recognised international experience of the Directors.
  • Appropriate composition of Committees, with sound expertise among Directors.
  • Diversity in terms of gender, age, profile and experience.
  • Appropriate size for the quality of the work, discussions and decision-making.
  • Appropriate number of independent Directors (50%), given their profile, considerable freedom of expression and the structure of share ownership.
  • Required expertise well represented with regard to the requirements defined by the Board (see paragraph 2.2.1.2.), particularly experience of general management of large international companies.
  • Recognised international experience of the Directors.
  • Appropriate composition of Committees, with sound expertise among Directors.
Areas for improvement/Action to be taken/Issues to be addressed

When future Directors are recruited, ensuring that this level and diversity of skills, in particular on the subjects of sustainability and international experience, is maintained/reinforced.
MODUS OPERANDI OF THE BOARD OF DIRECTORS
  • An operating method enabling the Board to fully carry out its duties, in particular that of determining and monitoring the implementation of strategic orientations.
  • Very good level of involvement; active, committed Directors who express themselves very freely.
  • Agendas well suited to the challenges facing the company and to the Board’s remit; adaptable throughout the year; taking account of Directors’ requests.
  • Frequency and length of meetings sufficient, a real effort was made to keep to schedules.
  • Time set aside for debate entirely satisfactory.
  • Confidentiality of discussions well respected.
  • Proper application of the rules relating to conflicts of interest.
  • Organisation and logistics of meetings highly satisfactory.
  • Non-Board events helping to strengthen the collective.
  • Digital platform well used.
  • Areas for improvement identified for 2023 addressed.
  • Issues identified for the 2022 review as being on the Board’s agenda in 2023 addressed.
  • An operating method enabling the Board to fully carry out its duties, in particular that of determining and monitoring the implementation of strategic orientations.
  • Very good level of involvement; active, committed Directors who express themselves very freely.
  • Agendas well suited to the challenges facing the company and to the Board’s remit; adaptable throughout the year; taking account of Directors’ requests.
  • Frequency and length of meetings sufficient, a real effort was made to keep to schedules.
  • Time set aside for debate entirely satisfactory.
  • Confidentiality of discussions well respected.
  • Proper application of the rules relating to conflicts of interest.
  • Organisation and logistics of meetings highly satisfactory.
  • Non-Board events helping to strengthen the collective.
  • Digital platform well used.
  • Areas for improvement identified for 2023 addressed.
  • Issues identified for the 2022 review as being on the Board’s agenda in 2023 addressed.
Areas for improvement/Action to be taken/Issues to be addressed

Maintain the efforts made in 2023 to respect schedules without reducing time for discussions.
INFORMATION PROVIDED BY THE BOARD
  • Information “at the right level” for effective participation in the work of the Board.
  • Topics covered in 2023 very comprehensive and well aligned with the issues facing the company.
  • Document delivery times improving and generally satisfactory.
  • Presentations by managers concise and sufficiently analytical to give a clear understanding of the issues at stake.
  • Good information on market trends and the competitive environment.
  • Adequate information on key strategic issues, including CSR issues.
  • Useful and sufficient information provided between Board meetings.
  • Information “at the right level” for effective participation in the work of the Board.
  • Topics covered in 2023 very comprehensive and well aligned with the issues facing the company.
  • Document delivery times improving and generally satisfactory.
  • Presentations by managers concise and sufficiently analytical to give a clear understanding of the issues at stake.
  • Good information on market trends and the competitive environment.
  • Adequate information on key strategic issues, including CSR issues.
  • Useful and sufficient information provided between Board meetings.
Areas for improvement/Action to be taken/Issues to be addressed
  • Managers’ presentations could be accompanied by a summary of the key points to remember.
  • Receive a summary of analysts’ reports after the publication of the results and sales figures.
LEARNING FOR MEMBERS OF THE BOARD

Adequate information on the main CSR issues in line with the learning provided in 2022

Adequate information on the main CSR issues in line with the learning provided in 2022

Areas for improvement/Action to be taken/Issues to be addressed

“Ethics” learning to be included in the 2024 programme.