AFEP and MEDEF Revise Corporate Governance Code for the French Listed Companies

The “Association Française des Entreprises Privées” and the “Mouvement des Entreprises de France” (AFEP-MEDEF) published a revised version of their joint corporate governance code for the French listed companies on June 16th. It was announced on the same day through a press release.

Among the new additions to the code, we can highlight “the introduction of a consultation process on the individual compensation paid to executive directors (say on pay): effective from the 2014 General Meetings, shareholders have to vote on the remuneration of executives. When issued a negative opinion, the (Supervisory) Board, acting on the advice of the compensation committee, must publish a notice detailing how it intends to deal with the opinion expressed by the shareholders”.

Compensation component of executive directors can be reviewed through Cofisem database and can be benchmarked according to your specific needs!

Cofisem database enables you to study, more specifically, how “say on pay“ might be taken into account in the resolutions submitted to the shareholders’ vote during the 2014 meetings, as you can also download from it every working document for the General Meetings.

Cofisem, 26 April 2014