Air France 2008 Annual Report Download - page 57

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57
forecasts provided to shareholders and the market.
It evaluates the consistency and effectiveness of the
internal control procedures and examines any significant
risks. It approves the fees of the statutory auditors and
issues prior approval for some services provided by them.
The committee must also monitor the quality of
procedures to ensure compliance with stock market
regulations. The audit committee has the resources
necessary to perform its mission and may, notably, be
assisted by persons from outside the company. During
the 2007-08 financial year the audit committee met four
times.
The strategy committee
The strategy committee comprises seven directors: Jean-
Cyril Spinetta (Chairman of the committee), Leo van Wijk,
Patricia Barbizet, Philippe Josse, Claude Gressier, Didier
Le Chaton and Christian Magne. The meetings are also
attended by the Deputy Chief Executive Officer, the Senior
Executive Vice President, Finance and the Secretary for
the Board of Directors.
The committee’s responsibilities include reviewing the
strategic orientations of the Group’s activities, changes in
the structure of the fleet or scope of subsidiaries, the
purchase or sale of aircraft-related or other assets and the
air sub-contracting and alliance policy.
The strategy committee did not meet during the 2007-08
financial year (one meeting in 2006-07), the strategy of the
Group having been presented directly to the Board of
Directors.
The remuneration committee
The remuneration committee comprises three directors:
Jean-Marc Espalioux (Chairman of the committee)
Cornelis van Lede and Pierre Richard. The remuneration
committee is primarily responsible for submitting
recommendations for the level of and changes to the
remuneration of the principal corporate officers. It may
also be asked to give an opinion on the compensation of
the Group’s senior executives, as well as on the policy for
stock option plans for new and existing shares.
The appointments committee
The committee comprises three members: Jean-Marc
Espalioux (Chairman of the committee), Patricia Barbizet
and Jean-François Dehecq. The appointments committee
is responsible for proposing candidates to serve as
members of the Board of Directors as well as to replace
principal corporate officers, particularly in the event of
unforeseen vacancies.
The appointments committee did not meet during the
financial year.