Econocom - 2020 annual report

05 management report

corporate governance statement

the Committee is subsequently responsible for allocating and distributing, following the recommendation of the Chairman of the Board of Directors, the amount previously set by the Boardof Directors. The Compensation Committee met twice in 2020. COMPENSATION PAID 5.7.2. IN 2020 The Board of Directors 5.7.2.1. The Bylaws provide for Directors’ fees for Directors. The Extraordinary General Meeting of 18 December 2015 decided to increase the compensation of non-executive Directors from €3,000 to €5,000 per Board meeting from January 2016, subject to actual attendance at meetings.

Executive Directors do not receive any compensation in respect of their directorships for Econocom group. Their compensation comes from contractual relationships or their terms of office with one or more Group companies. At its meeting of 24 November 2016, the Board of Directors clarified the status of executive Director, excluding from the concept Directors having an operational function within subsidiaries but not holding executive positions at Econocom group. People in this position are considered to be non-executive Directors. However, they do not receiveDirectors’ fees. Directors not exercising any operational function do not receive any compensation other than the below-mentioned Directors’ fees.

A summary of the nature of the compensation paid to Directors is as follows: Terms of office at 31 Dec. 2020

Nature of compensation

Chairman and Chief Executive Officer – represented by Jean-Louis Bouchard Vice-Chairman non-executive Director

EIBV receivescompensation under a service contract

Econocom International BV (EIBV)

Directors’ fees

Robert Bouchard

Compensationreceived as an employee until 11/12/2020 and subsequentlyDirectors’ fees

Non-executive Director

Bruno Grossi

Non-executive Director

Directors’ fees

Jean-Philippe Roesch

Compensationreceived as an employee

Non-executive Director

Véronique di Benedetto

Non-executive Director Independent Director Independent Director Independent Director

Directors’ fees Directors’ fees Directors’ fees Directors’ fees

Gaspard Dürrleman

Walter Butler

Adeline Challon-Kemoun

Marie-Christine Levet

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2020 annual report