Total CEO Patrick elected as chairman board directors

Total CEO Patrick elected as chairman of board of directors

7:52 AM, 17th December 2015
Total CEO Patrick elected as chairman of board of directors
Patrick Pouyanne appointed as chairman of the board of directors, Total SA. (File photo)

PARIS, FRANCE: Total SA said that it has elected Patrick Pouyanne, CEO of Total since 22 October, 2014 and director since 29 May, 2015 as chairman of the board of directors. Pouyanne becomes chairman and CEO of Total, following the board’s decision to recombine the two roles.

Pouyanne succeeds Thierry Desmarest, whose term as chairman of the board expires on 18 December, in line with the age limits specified in the group’s bylaws. Thierry Desmarest, honorary chairman, will remain as a director until the annual shareholders’ meeting on 24 May 2016.

In addition, the board of directors has decided to create the position of lead independent director, who will in particular oversee the efficient running of the company’s governance structure, will chair the governance and ethics committee and will be a key contact for shareholders on issues related to the board of directors’ responsibilities.

Patricia Barbizet, an independent director since 2008, has been appointed as lead independent director. In this capacity, she will chair the governance and ethics committee. She will also be a member of the compensation committee.

“I have found Desmarest’s support and advice invaluable in ensuring the transition of the group’s management, the board and its committees. Today’s decisions are fully aligned with the company’s commitment to uphold the highest standards of governance,” said Pouyanne.

© Worldofchemicals News

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