LVMH: Corporate Structure and Business Plan

5006 WordsNov 21, 201221 Pages
GOVERNANCE STRUCTURE The Board of Directors is the strategy body of LVMH Moët Hennessy - Louis Vuitton SA. The competence, integrity and responsibility of its members, clear and fair decisions reached collectively, and effective and secure controls are the ethical principles that govern the Board. The key priorities pursued by LVMH’s Board of Directors are enterprise value creation and the defense of the Company’s interests. LVMH’s Board of Directors acts as guarantor of the rights of each of its shareholders and ensures that shareholders fulfill all of their duties. The Company adheres to the Code of Corporate Governance for Listed Companies published by AFEP and MEDEF. The Board of Directors shall have a maximum of 18 members, a third of…show more content…
If necessary, the Committee may be required to hold special meetings, when an event occurs that may have a significant effect on the parent company or consolidated financial statements. Decisions of the Committee shall be made by simple majority vote and shall be deemed to have been reached as a board. The proceedings of each Committee meeting shall be recorded in minutes of the meeting. The Committee shall report on its work to the Board of Directors. It shall submit to the Board its findings, recommendations and suggestions. The Committee may request any and all accounting, legal or financial documents it deems necessary to carry out its responsibilities. The Committee may call upon the Company’s staff members responsible for preparing the financial statements, carrying out internal control procedures, conducting internal audits, applying risk management or cash management procedures, investigating tax or legal matters, as well as the Statutory Auditors, to appear before it on any number of occasions to address issues in detail, without requiring the presence of the Chairman of the Board, the Chief Executive Officer, or Group Managing Director(s) of LVMH. These meetings may also take place in the absence of those responsible for the accounting and financial
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