Committees of the Board of Directors
The main role of this Committee is to examine the interim and annual consolidated financial statements in order to inform the Board of Directors of their content; to ensure the completeness, reliability, and quality of the information, including forecast information, provided to shareholders and to the market; and to monitor the statutory audit of the annual financial statements.
The Remuneration Committee is responsible for making proposals to the Board of Directors regarding the amount and changes in the compensation of executive directors.
It may be asked to give an opinion on the remuneration of senior executives who are members of the Executive Committee, and on the level of remuneration allocated to people hired for limited periods if this remuneration is unusually high. The Remuneration Committee reviews and issues its opinion on the policy applied to stock option or stock purchase plans or any other long-term incentive programme.
Appointments and Governance Committee
The Appointments and Governance Committee is responsible for submitting proposals to the Board of Directors for the appointment and replacement of the Chairman of the Board of Directors, and other directors and executive directors of Air France-KLM. It also makes recommendations for the appointment of the Chief Executive Officer (CEO) of the Key Subsidiaries.
It is also consulted by the Chief Executive Officer of Air France-KLM on the appointment of other executive directors (deputy managing directors or members of the management board) and members of the Board of Directors or the Key Subsidiaries' Supervisory Board.
Furthermore, it is responsible for establishing the succession plan for executive directors. It also submits proposals to the Board of Directors regarding the diverse policy and the appointment of directors. The annual evaluation of the functioning of the Board of Directors is also part of its remit. Finally, before examining the Board of Directors, the Appointments and Governance Committee makes proposals for the independence of board members in accordance with the criteria of the AFEP-MEDEF Code.
Sustainable Development and Compliance Committee
The Sustainable Development and Compliance Committee assists the Board of Directors in reviewing the Group's compliance and sustainability policies.
It ensures the promotion of value creation by the Group in the long term, and thus the consideration of the environmental and social issues related to the activities laid out in the Group's strategy, by issuing recommendations to the Board of Directors.