Proposed appointments to Rexel’s Supervisory Board
Rexel announces that it will propose at its shareholders’ assembly to be held on May 20, 2010, Françoise Gri and Amaury Hendrickx be appointed as members of its Supervisory Board.
Amaury Hendrickx would be appointed to replace Guido Padovano, who has resigned in order to allow for a gradual renewal of the terms of office of the members of the Supervisory Board.
The appointment of Françoise Gri as an independent member would increase the number of independent members to four, or to one third of Rexel’s Board, which would then have 12 members.
The shareholders’ meeting called for May 20, 2010 will also be asked to incorporate in Rexel’s by-laws the principle of the staggered renewal of the terms of office of the members of the Supervisory Board and to reduce their terms of office from five years to four years.
The Management Board’s proposal to the May 20, 2010, shareholders’ meeting of these two appointments and of the change to the by-laws reflects Rexel’s commitment to comply with the principles and best practices set out in the AFEP-MEDEF corporate governance code, in terms of transparency, disclosure and good governance. In 2009, the Board also asked an independent consulting firm, Ricol Lasteyrie, to assess its organization and functioning. The consultants’ report concluded that the Board’s work, as well as the information provided to its members, was of high quality.