Corporate governance

Sequana refers to the AFEP-MEDEF corporate governance code (available on www.afep.com and www.medef.fr).

Since 27 June 2013, the functions of Chairman and Managing Director of Sequana are combined and performed by Pascal Lebard.

Furthermore, since that date , Jean- Pascal Beaufret acts as the Vice Chairman.

The  composition and functioning of Sequana’s Board of Directors and Board committees complies with the prevailing corporate governance recommendations, particularly as regards director independence and experience, and gender equality on the Board of Directors.

Sequana’s Board currently has ten members whose terms expire between 2018 and 2020.

The average age of Board members is 55. Five directors are independent.

Most Board members have held directorship or executive management positions in other companies and acquired both corporate management skills and sufficient expertise to enable them to deliberate independently and in an informed manner on the Group’s  financial statements, as well as on accounting compliance issues.

The Board of Directors meets at least four times a year, and whenever the Company’s interests so require, to deliberate as a collegial body on the matters referred to it for approval.

The Board met on 15 occasions in 2016, with an attendance rate of 92% among its members.

Commitees’ composition

The Audit Committee is composed of 3 members, all of them independent members and no executive corporate officer is a member.

The Nomination and Compensation Committee has 2 members, including 1 independent member and no executive corporate officers is a member.

The strategy Committee is composed of 5 members, including 3 independent members.

All the Committee Presidents are independent.