2013 report by the Financial Market Authorities: company government and remuneration of listed company directors
In its 2013 report, the financial markets authority (AMF) has drafted, for the tenth consecutive year, the overview of information provided and practices in terms of commercial governance of 60 companies listed referring to the AFEP-MEDEF code.
According to the AMF, the report provides five positive observations:
The number of companies having appointed a reference director has increased (18.4%) ;
Increased diversity within boards of directors, 25% of women and 25% of foreign nationals;
Fewer accumulated mandates for company directors (48% of non accumulation);
More independent directors presiding audit committees (+ 5 points compared with 2011 ; 93%) ;
The total amount of compensation for departure paid to directors in 2012 complied with the code.
The AMF moreover recommends improvement in identification of directors representing employees, measurement of the effective contribution of each director in works of the board or information issued concerning service provision agreements concluded between the company and a director.