Balanced governance in the interest of the shareholders and employees—that is the main concern of the dual management structure (Supervisory Board and Management Board) that Vallourec adopted in 1994.
Vallourec management structure comprises a Management Board and a Supervisory Board.
The Management Board which is a collegial body, is responsible for managing the Group using the powers conferred on it by statutory and regulatory provisions and the Group’s by-laws.
Vallourec Management Board is composed of two members:
Member of the Supervisory Board
Member of the Finance and Audit Committee
Deputy CEO in charge of finance, communications, and strategy at AccorHotels*
Main activities performed outside of the Company
The Supervisory Board has set up four committees: the Finance and Audit Committee, the Appointments, Compensation and Governance Committee, the Strategy Committee and the Corporate, Social Responsibility (CSR) Committee.
These committees have an advisory role and prepare certain Board meetings. They issue proposals, recommendations and opinions in their respective areas of competence.
Four members: Jean-Jacques Morin (Chairman), Virginie Banet, Bpifrance Participations represented by Alexandre Ossola and Antoine Cahuzac.
The Finance and Audit Committee is responsible for preparing the Supervisory Board's deliberations relating to the compilation and oversight of accounting and financial reporting information. In this context, it oversees procedures for compiling financial reporting information, for ensuring effective internal control and risk management systems and for the statutory audit of annual and consolidated accounts by the auditors and for ensuring the independence of the latter.
Four members: Pierre Pringuet (Chairman), Antoine Cahuzac, Pascale Chargrasse and Mickaël Dolou.
The Appointments, Compensation and Governance Committee is responsible for preparing the Supervisory Board's deliberations on the appointment and compensation of the Group's corporate and governance officers.
Three members: Vivienne Cox (Chairman), Corine de Bilbao and Bpifrance Participations represented by Alexandre Ossola.
The Committee is responsible for preparing the Board's deliberations on the Group's strategic direction and its long-term future.
Three members: Laurence Broseta (Chairman), Maria-Pilar Albiac-Murillo and Corine de Bilbao.
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.