Since July 1, 2021, the Company's governance structure is based on a Board of Directors.
The Board of Directors is comprised of 8 members among which 5 were qualified as independent by the Board of Directors in accordance with the criteria set forth in the Afep-Medef Code.
The Board of Directors benefits from the work of 4 specialized Committees that review specific matters: the Audit Committee, the Nomination, Remuneration & Governance Committee, the Strategic & Finance Committee and the Corporate Social Responsibility Committee.
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 Edouard Guinotte.
Since 1 July 2021, Olivier Mallet has been the Group's Deputy Chief Executive Officer.
Born on 14 July 1956 in Neuilly-sur-Seine (France)Deputy Chief Executive 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 8 members including 50% of women and 62% of independent Board members. It also includes 2 observers. Its decisions are made in light of the recommendations of 4 Board Committees:
• the Audit Committee,
• the Nomination, Remuneration & 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.
Claire LANGELIER, Group General Counsel of Vallourec
Four 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 six members: Ms. Angela Minas (Chairwoman), Ms. Corine de Bilbao, Ms. Maria Silvia Marques, Mr. William de Wulf, Ms. Hera Siu and Mr. Gareth Turner.
The Nomination, Remuneration & Governance Committee reviews the composition and operation of the Board. It defines the compensation policy for the Group's executive directors, proposes a general long-term compensation policy and examines the annual plans for the allocation of options and performance shares.
The Nomination, Remuneration & Governance Committee is comprised of three members: Mr. Pierre Vareille (Chairman), Mr. William de Wulf and Ms. Angela Minas.
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. William de Wulf.
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 four members: Ms Corine de Bilbao (Chairwoman), Ms. Maria Silvia Marques, Ms. Angela Minas and Ms. Hera Siu.