Loreal 2011 Annual Report Download - page 55

53REGISTRATION DOCUMENT − L’ORÉAL 2011
Corporate governance
2
Remuneration of the members oftheBoard ofDirectors andthecorporate of cers
2.3. Remuneration of the members oftheBoard
ofDirectors andthecorporate officers
2.3.1. Remuneration of
themembers oftheBoard
of Directors
The provisions adopted by the Board in this regard in
September2003, at the time when the Board published its
Internal Rules for the first time are as follows:
“The Directors receive attendance fees in the amount
approved by the vote at the Ordinary General Meeting, and
which are allocated as decided by the Board.
The attendance fees are divided between the Directors as
follow:
−
an equal share allocated to each Director, comprising a
fixed part and a part that varies according to the degree
of regularity in attending meetings;
−
an additional share for Review Committee members.”
In2011, a fourth member was appointed to both the Audit
Committee and the Human Resources and Remuneration
Committee.
For 2011, the Board adopted for a full year: a fixed annual
sum of €30,000; an amount of €5,000 for each Board meeting
which the Director attends; an amount of €15,000 for each
Director who is a member of the Strategy and Sustainable
Development Committee and an additional amount of €15,000
for the Chairman of this committee; an amount of €10,000
for each Director who is a member of the Human Resources
and Remuneration Committee and the Appointments and
Governance Committee and an additional amount of
€10,000 for the Chairman of each of these committees; an
amount of €25,000 for each Director who is a member of the
Audit Committee and an additional amount of €25,000 for its
Chairman.
A total amount of €1,051,500 was distributed to Directors at the beginning of2012 in respect of the 2011 financial year, for a total of
five meetings like in2010, according to the following breakdown:
In euros
2010:
Total 5meetings and
16Committee meetings
2011:
Total 5meetings and
17Committee meetings
Mr.Jean -Paul Agon 55,000 79,000
Mr.Werner Bauer 55,000 50,000
Mrs.Liliane Bettencourt 65,000 55,000
Mrs.Françoise Bettencourt Meyers 55,000 55,000
Mr.Peter Brabeck-Letmathe 85,000 90,000
Mr.Francisco Castañer Basco 90,000 95,000
Mr.Charles-Henri Filippi 95,000 110,000
Mr.Xavier Fontanet 55,000 65,000
Mr.Bernard Kasriel 100,000 100,000
Mr.Marc Ladreit de Lacharrière 55,000 55,000
Mr.Jean-Pierre Meyers 105,000 115,000
Sir Lindsay Owen-Jones 85,000 61,000
Mrs.Annette Roux 55,000 45,000
Mr.Louis Schweitzer 55,000 76,500
Mr.Jean-Paul Agon, Chairman and Chief Executive Officer, does not receive any attendance fees in the L’Oréal Group other than
those referred to above.