HERMÈS - 2019 Universal Registration Document

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CORPORATE GOVERNANCE SUPERVISORY BOARD'S' REPORT ON CORPORATE GOVERNANCE

EXECUTIVE MANAGEMENT

3.3.2.2

Role

Composition at 31/12/2019

The Executive Chairmen are appointed by the Active Partner, after consultation with the Supervisory Board. In accordance with the Articles of Association, the Executive Management comprises one or two Executive Chairmen, who are natural persons, Active Partners or from outside the Company, each having the same powers. The term of office of the Executive Chairmen is open-ended. Mr Axel Dumas Executive Chairman

The Executive Management ensures the management of Hermès International. The role of the Executive Chairman is to manage the Group and act in its general interest, within the scope of the corporate purpose and subject to those powers expressly granted by law or by the Articles of Association to the Supervisory Board, to the Active Partner and to Shareholders’ General Meetings. The Executive Chairmen distributed their roles as follows: Mr Axel Dumas is in charge of strategy and operational management, and Émile Hermès SARL, through its Executive Management Board, is responsible for the vision and strategic areas.

Appointed by decision of the Active Partner dated 4 June 2013 (effective 5 June 2013)

Émile Hermès SARL (represented by Mr Henri-Louis Bauer) Executive Chairman Appointed by decision of the Active Partner dated 14 February 2006 (effective 1 April 2006)

s Changes among the Executive Management in 2019: None s Changes among the Executive Management since 31 December 2019: None

s Shareholding obligations: At its meeting of 21 March 2017, the Supervisory Board decided that the Executive Chairmen should each be required to hold a minimum of 1,000 Hermès International shares pursuant to Article 23 of the Afep-Medef Code updated in January 2020. The two Executive Chairman comply with this requirement.

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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