Nexans Board of Directors, chaired by Frédéric Vincent, met on March 31, 2014 to approve the resolutions to be submitted to the shareholders at the annual shareholders’ meeting of May 15, 2014.
The Board took note of the decision of François Polge de Combret, independent director since May 2006, to not seek renewal of his mandate for personal reasons, which will therefore end on May 15, 2014. Also, Nicolas de Tavernost, independent director, has decided to resign from the Board in order to comply with the recommendations of the AFEP-MEDEF Code of corporate governance relating to the number of mandates that can be held by an executive director.
The renewal of the mandate of Véronique Guillot-Pelpel, an independent director, will be proposed to the shareholders in order to capitalize on her excellent knowledge of the Group.
The Board, upon recommendation of the Appointments, Compensation and Corporate Governance Committee, has decided to propose to the shareholders the appointment of Philippe Joubert as independent director to strengthen the Board’s competencies in the fields of industry and energy-related matters.
In addition, Bpifrance, a primary shareholder of the Group since 2009 currently holding approximately 7.8% of the share capital and a long term strategic partner of Nexans, has proposed Fanny Letier to be appointed as director related to it, in lieu of Jérôme Gallot who remains an independent director. The Board, upon recommendation of the Appointments, Compensation and Corporate Governance Committee, considered the proposed candidate and has decided to submit her nomination to the shareholders’ meeting of May 15, 2014.