Louis Vuitton 2003 Annual Report Download - page 13

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BOARD OF DIRECTORS AND GENERAL MANAGEMENT
BOARD OF DIRECTORS
Bernard Arnault
Chairman & Chief Executive Officer
Antoine Bernheim(1)
Vice Chairman
Antonio Belloni
Group Managing Director
Delphine Arnault
Jean Arnault
Nicolas Bazire
Nicholas Clive Worms(1)
Diego Della Valle(1)
Michel François-Poncet(1)
Albert Frère
Jacques Friedmann(1)
Pierre Godé
Gilles Hennessy
Patrick Houël(2)
Arnaud Lagardère(1)
Lord Powell of Bayswater
Felix G. Rohatyn
Hubert Védrine(1)(2)
(1) Independant Director.
(2) Nominated at the General Meeting
of Shareholders of May 13, 2004.
EXECUTIVE COMMITTEE
Bernard Arnault
Chairman & Chief Executive Officer
Antonio Belloni
Group Managing Director
Nicolas Bazire
Development & Acquisitions
Ed Brennan
Travel retail
Yves Carcelle
Fashion & Leather Goods
Pierre Godé
Advisor to the Chairman
Jean-Jacques Guiony
Finance
Patrick Houël
Finance
Concetta Lanciaux
Advisor to the Chairman, Synergies,
President LVMH Italy
Pierre Letzelter
Sephora
Christophe Navarre
Wines & Spirits
Philippe Pascal
Watches & Jewelry
Daniel Piette
LV Capital
Bernard Rolley
Operations
ADVISORY BOARD MEMBER
Kilian Hennessy(1)
PERFORMANCE
AUDIT COMMITTEE
Michel François-Poncet(1)
Chairman
Antoine Bernheim(1)
Nicholas Clive Worms(1)
Gilles Hennessy
NOMIN ATING
AN D COMPENSATION
COMMITTEE
Antoine Bernheim(1)
Chairman
Albert Frère
Kilian Hennessy(1)
STATUTORY AUDITORS
COGERCO-FLIPO
represented by Henri Lejetté
ERNST & YOUNG AUDIT
Represented by Gabriel Galet
ADVISORY BOARD
The Shareholders’ Meeting may, on the
recommendation of the Board of Direc-
tors, appoint a maximum of nine Advisors.
The Advisors are drawn from the sha-
reholders based on individual merit,
and form an Advisory Board.
They are appointed for a three-year
term that ends immediately after the
Shareholders’ Meeting called to
approve the financial statements for
the previous fiscal year, which is held
during the year in which an Advisor's
term expires.
Advisors are invited to attend Board of
Directors’ meetings and participate in
the deliberations in an advisory capa-
city; their absence does not affect the
validity of these proceedings.
COMPENSATION POLICY
Part of the compensation paid to mem-
bers of the Executive Committee and
key operations personnel is based on
the generation of cash, income from
operations, and the return on capital
employed for the business groups and
companies headed by the respective
executives, as well as on their indivi-
dual performance. The variable portion
generally represents between one-third
and one-half of their compensation.
11
PASSIONATE ABOUT
CREATIVITY