BIC - 2020 Universal Registration Document

CORPORATE GOVERNANCE

Administrative and management bodies

Independence of Directors Based on the recommendations of the Nominations, Governance and CSR Committee, the Board of Directors reviewed the qualification as Independent Director at its meeting of March 25 th , 2021, in the light of the criteria set out in the AFEP-MEDEF Corporate Governance Code (§ 8):

Criterion 1

Not to be and not to have been within the previous five years: an employee or executive officer of the Company; • an employee, executive officer or Director of a company consolidated within the corporation; • an employee, executive officer or Director of the Company’s parent company or a company consolidated • within this parent company. Not to be an executive officer of a company in which the corporation holds a directorship, directly or indirectly, or in which an employee appointed as such or an executive officer of the Corporation (currently in office or having held such office within the last five years) holds a directorship.

Criterion 2

Criterion 3

Not to be a customer, supplier, commercial banker, investment banker or consultant: that is significant to the corporation or its Group; • or for which the corporation or its Group represents a significant portion of its activity. •

The evaluation of the significance or otherwise of the relationship with the Company or its Group must be debated by the Board and the quantitative and qualitative criteria that led to this evaluation (continuity, economic dependence, exclusivity, etc.) must be explicitly stated in the annual report.

Criterion 4

Not to be related by close family ties to a company officer.

Criterion 5

Not to have been an auditor of the corporation within the previous five years.

Criterion 6

Not to have been a Director of the Corporation for more than 12 years. Loss of the status of Independent Director occurs on the date of the 12 th anniversary. A non-executive officer cannot be considered independent if he or she receives variable compensation in cash or in the form of securities or any compensation linked to the performance of the corporation or group. Directors representing major shareholders of the corporation or its parent company may be considered independent, provided these shareholders do not take part in the control of the corporation. Nevertheless, beyond a 10% threshold in capital or voting rights, the Board, upon a report from the nominations committee, should systematically review the qualification as independent in the light of the make-up of the corporation’s capital and the existence of a potential conflict of interest.

Criterion 7

Criterion 8

M-A. Bich- Dufour

M-P. Chandon- Moët

SOCIÉTÉ M.B.D. (E. Bich)

Pierre Vareille

Gonzalve Bich

Elizabeth Bastoni

Inna Kostuk

Vincent Bedhome

Timothée Bich

Maëlys Castella

John Glen

Jacob Schwartz

Candace Matthews

Criteria

1 : Not an employee or corporate officer within the past 5 years

2 : No cross- directorships

3 : No significant business relationships 4 : No family ties 5 : Not an auditor 6 : Period of office not exceeding 12 years

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√ 1(1)

7 : No compensation linked to the Company’s or Group’s performance 8 : Not representing a major shareholder

Until the May 2021 AGM (1)

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• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •

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