Corporate Governance
The Committee is composed of five members, two of which are independent, two members representing Groupe Casino, and the Chairman of the Board of Directors.
The Committee meets at least twice a year as invited by its Chairman, who has the option of organizing any supplementary meetings if the circumstances so require.
Its decisions are made by simple majority, but when the Committee examines an operation involving Groupe Casino, the two representatives of the majority shareholder will take part in the discussions in an advisory capacity.
The mission of the Investment Committee is:
- to examine the investment strategy and to ensure the coherence of acquisitions and sales envisaged with this strategy; the Committee is thus informed regularly of investment plans carried out,
- to examine and advise on the annual investment budget,
- to analyze and advise in relation to investment or disinvestment proposals submitted for the prior approval of the Board of Directors (a description of the management decisions submitted for prior authorization of the Board of Directors is given in section 16.4 "Limitations to management's powers"),
- to examine all renegotiations (annual or other) related to the partnership agreement (see "Business-Related parties transactions") signed with Casino concerning development and acquisitions for which it issues an opinion to the Board of Directors, and
- to proceed with any studies or appropriate projects.
The Investment Committee is composed of 5 members appointed for the duration of their mandates as administrators. Appointments of members of the Investment Committee by the Board of Directors on May 6 2008 as follows:
- Pierre Vaquier (President) *
- Eric Sasson*
- Pierre Féraud
- Antoine Giscard d'Estaing
- Jacques Ehrmann
* Independent member
