BACK

Composition and tasks of the Committees

THE AUDIT COMMITTEE

The Audit Committee’s role is to assess all the financial statements and ensure that accounting, financial and ethical standards are applied within the Group, both in France and abroad. The Committee has to ensure that these standards are relevant and effective, and that the internal control procedures are effective. The Committee receives reports on the internal audit oversight programme and any outcomes from this.

Members of the Audit Committee:

Until November 24th, 2016, the Audit Committee was chaired by François AUVIGNE (Director representing the French government). The other members were Thomas GOSSET (Director representing the French government) and Vincent DENOIS (Director representing the employee).

The committee met three times between January and October 2016.

After November 24th, 2016, during its meeting on January 19th, 2017, this new Committee approved the appointment of the new members of the Audit Committee: François AUVIGNE (Chair – appointed by the General Meeting), Thomas GOSSET (Director representing the French government), be replaced by Cédric GARCIN, after the meeting of the Board of Directors on March 1st, 2017 and Jérôme WACRENIER (Director representing the employee).

This new Committee met on March 2017.

 

 

RESEARCH AND DEVELOPMENT COMMITTEE

The Research and Development Committee has the role of providing strategic and scientific information to assist the board of directors in their decision-making, particularly in relation to analysis carried out by the LFB SA Scientific Board.

Members of the Research and Development Committee:

Until November 24th, 2016, the R&D Committee was chaired by Elisabeth HUBERT (Director – Qualified member).

The other members were Pierre ANGOT (Director representing the French government), Pascale AUGÉ (Director representing the French government), Jean-Michel HEARD (Director representing the French government), Manuela LEONE (Director – Qualified member) and Hervé MARCILLY (Director representing the employee).

As of May 1st, 2016, Manuela LEONE resigned from her position to join LFB BIOTECHNOLOGIES.

The committee met five times before 24th of November, 2016.

From November 24th, 2016 to now, as the newly formed Board did not meet, new members of the R&D Committee were not appointed.

COMPENSATION COMMITTEE

The Compensation Committee was set up by resolution of the Board of Directors on 21 March 2011. The Compensation Committee has the main task of preparing a recommendation for the Chairman and CEO’s remuneration and submitting it for consideration. The Committee also makes proposals regarding the total amount of directors’ attendance fees for submission to the shareholders’ general meeting, and also for how the total is to be shared among the Board members.

Members of the Compensation Committee:

Until November 24th, 2016, the Compensation Committee was chaired by René ABATE (Director – Qualified member) and the other members were Thomas GOSSET (Director representing the French government) and Dominique SAINT PICQ (Director representing the employee).

The committee met one time before 24th of November, 2016.

From November 24th, 2016 to now, as the newly formed Board did not meet, new members of the Compensation Committee were not appointed.