An essential governance body
The Board of Directors is elected by the corporation's shareholders to supervise the group's management and operations. The Board is the guarantor of the Essilor vision and ensures that the management operates in the interest of the corporation.
Composition of the Board as of May 11, 2012
The role of the Board
The role of the Board of Directors is to:
Constantly updated expertise
- Call shareholder meetings;
- Establish and certify corporate financial statements and present them to the shareholders;
- Appoint and dismiss corporate officers;
- Appoint the members of the four Board of Directors' Committees, and to monitor and co-ordinate their work;
- Approve strategic decisions, including acquisitions and transfers;
- Approve large-scale reorganizations and investments;
- Monitor the implementation of corporate decisions;
- Assess its own performance and that of the executive management;
- Define and review annually the attribute of "independent director";
- Designate independent directors;
- Assess the work carried out by the Board of Directors.
Each member of the Board contributes his or her expertise and professional experience, exercising total freedom of decision. The renewal of mandates fosters the exchange of experience and expertise and allows members of the Board to combine skills with knowledge of the corporation. A balanced and representative body
The various categories of employee shareholders are represented on the Board by three members of the Valoptec, the Essilor employee shareholder association. These members represent almost 15% of shareholder voting rights. Quality of corporate governance hailed by professionals
Members of the jury of Agefi Hebdo, a French financial daily, made up of economists and financial specialists, acclaimed the quality of Essilor's governance by awarding the corporation their 2006 Grand Prix for Corporate Governance.