Since July 1, 2021, the Company's governance structure is based on a Board of Directors.
As of today, the Board of Directors is comprised of 7 members. Among the 7 Directors 4 of them were qualified as independent by the Board of Directors in accordance with the criteria set forth in the AFEP-MEDEF Code and one of the Directors represents employees.
The Board of Directors benefits from the work of 5 specialized Committees that review specific matters: the Audit Committee, the Remuneration Committee, the Nomination & Governance Committee, the Strategic & Finance Committee and the Corporate Social Responsibility Committee (CSR).
An Executive Committee also supports the operational management of the Group.
Vallourec refers to the principles of corporate governance set out in the AFEP-MEDEF corporate governance code for French listed companies
The Vallourec Executive Committee team is responsible for leading the Group’s operations. It implements the strategic decisions and orientations defined by the Board of Directors under the chairmanship of Philippe Guillemot.
2017-2022
Philippe Guillemot was CEO at Elior Group, one of the world’s leading operators in contract catering and support services with strong positions in 5 countries. He carried out in-depth work to put the Group on a sound financial footing, to provide it with a value-creating strategy and to build a robust organization, which proved decisive in the face of the context made extremely difficult by the Covid crisis
Born on June 8, 1975, German nationality
Chief Financial Officer
The Board of Directors determines the Group’s strategic direction and ensures its implementation.
Vallourec’s Group refers to the corporate governance Code for French listed companies published by AFEP and MEDEF.
The Board of Directors of Vallourec is comprised of 7 members, as Ms Maria Silvia Marques did not wish to renew her term of office, which expired at the Combined General Meeting of May 25, 2023,including 50% of women and 67% of independent Board members. It also includes 1 observer.
Its decisions are made in light of the recommendations of 5 Board Committees:
• the Audit Committee,
• the Remuneration Committee,
• the Nomination and Governance Committee,
• the Strategic & Finance Committee and
• the Corporate Social Responsibility Committee.
Directors are elected for a four-year term (article 9 of the bylaws), in accordance with the recommendations of the AFEP-MEDEF corporate governance Code for French listed companies.
The Board’s composition reflects a diverse and complementary range of experience, nationalities and cultures, ensuring that the interests of all shareholders are taken into account.
2017-2022
Philippe Guillemot was CEO at Elior Group, one of the world’s leading operators in contract catering and support services with strong positions in 5 countries. He carried out in-depth work to put the Group on a sound financial footing, to provide it with a value-creating strategy and to build a robust organization, which proved decisive in the face of the context made extremely difficult by the Covid crisis
Board Secretary
Sarah DIB, Group General Counsel of Vallourec
Five committees assist the Board of Directors. They are consulted on matters prior to certain deliberations and issue proposals, recommendations and opinions in their respective areas of competence.
The Audit Committee reviews the quarterly results, the draft half-yearly and annual financial statements and assesses risk management and the internal control systems.
The Audit Committee is comprised of four members: Ms. Angela Minas (Chairwoman), Ms. Corine de Bilbao, Ms. Hera Siu and Mr. Gareth Turner.
The role of the Remuneration Committee is to prepare and facilitate the deliberations of the Board in respect of the issues relating to compensation of directors and Company Officers.
The Remuneration Committee is comprised of four members: Mr. Pierre Vareille (Chairman), Ms. Angela Minas, Ms. Hera Siu and Mr. Patrick Poulin (Director representing employees).
The role of the Nomination and Governance Committee is to prepare and facilitate the deliberations of the Board in respect of the issues relating to the composition of the Board, the appointment of Company Officers and the governance of the Group.
The Nomination and Governance Committee is comprised of three members: Mr. Pierre Vareille (Chairman), Ms. Angela Minas and Ms. Hera Siu.
The Strategic & Finance Committee reviews key subjects for the Group, issues recommendations on acquisitions, divestitures and partnership projects and studies all strategic matters of interest to the Group.
The Strategic & Finance Committee is comprised of three members: Mr. Gareth Turner (Chairman) Ms. Corine de Bilbao and Mr. Pierre Vareille.
The CSR Committee's mission is to ensure that the Group best anticipates the challenges, opportunities and extra-financial risks associated with its business in order to promote responsible and harmonious long-term value creation. It makes recommendations on the Group's policy and achievements in this area.
The CSR Committee is comprised of three members: Ms. Corine de Bilbao (Chairwoman), Ms. Angela Minas and Ms. Hera Siu.