Implementing the strategic plan
Governance at Faurecia is provided by its Executive Committee and Board of Directors.
The Executive Committee meets twice a month in order to review the principal questions relating to the general organization of the Group. It discusses and prepares direction on major operations-related issues concerning the company and its subsidiaries, which are then implemented by each of the Committee’s members in line with their functions.
The Board of Directors determines overall business, financial and economic strategies for the company and the Group and oversees their implementation. Subject to the powers expressly granted by the Shareholders’ Meetings and within the limit of the company’s purpose, the Board deals with all matters concerning the company’s affairs. The Board is consulted with respect to all Group strategic decisions at the initiative of its Chairman.
At its meeting on December 18, 2008, the Board of Directors of Faurecia decided that the AFEP/MEDEF corporate governance code will be respected in drawing up the report provided for under Article L.225-37 of the French commercial code and reports on its application of these principles in its registration document.