For a company focused on sustainable development it is essential that the system of governance reflects the long-term relationships that Veolia fosters with its clients.
Board of Directors
On February 26th, 2014, by recommendation of the Company's Nomination and Compensation Committee, Veolia Environnement's Board of Directors decided to propose the renewal of Antoine Frerot's term of office as a Director at the Annual General Shareholder's Meeting.
Subject to the approval at the Annual Shareholder's General Meeting (on April 24th, 2014), the Board will appoint Antoine Frérot as Chairman and Chief Executive Officer of Veolia Environnement for a further term of four years.
The Board of Directors is assisted by three committees with specific remits:
The Audit and Accounts Committee
This committee meets at the initiative of its chairman or at the request of the Chairman of the Board at least five times a year. In 2011, it met seven times.
Its work focused on reviewing the annual and interim accounts as well as the main accounting decisions, impairment testing of assets and at-risk contracts.
The Committee examined summaries and internal audits conducted during 2010 and the first half of 2011 and approved the internal audit program for 2012.
It also conducted other reviews, including the deployment of the Agora information system, the system of risk management and the financing of planned transactions.
The Nominations and Compensation Committee
This committee met three times in 2011 and focused primarily on the evolution of the Board's composition and the selection of new directors, proposals and recommendations to the Board regarding the remuneration of the CEO and Executive Committee and evaluation of the independence of directors.
The Research, Innovation and Sustainable Development Committee
This committee met six times in 2011.
It interviewed the directors of sustainable development and Veolia Environnement Research and Innovation (VERI).
It reviewed the evolution of several themes within the company including:
- Human and budgetary resources allocated for innovation and sustainable development;
- communication between VERI and the divisions and/or operating teams; and
- identification and advancement of innovations.