Corporate governance

Audit Committee

Main role:
Subject to the functions of the Board of Directors, the Audit Committee reviews the annual and half-yearly financial statements, to ensure that the Company’s accounting methods are appropriate, permanent and reliable, and reviews the effective implementation of internal control and risk management procedures, to be familiar with the policies implemented within the Group in relation to sustainability and respect for the environment, and to listen to and question the Statutory Auditors. Each year it reviews the fees charged by the Company’s Statutory Auditors and assesses their independence. The Audit Committee also considers potential Statutory Auditors for appointment.

Composition:
Five Directors: Mr. Tidjane Thiam (independent Director) - Chairman, Mr. Jean-Pierre Denis (climate change lead), the Financière Pinault company represented by Mrs. Héloïse Temple-Boyer, Mr. Serge Weinberg (independent Director) and Mrs. Véronique Weill (lead independent Director).

60% of the Committee members are independent within the meaning of the independence criteria defined by the AFEP-MEDEF Code and no executive corporate officer is a member of the Audit Committee, in accordance with the AFEP-MEDEF Code.