All three directors are independent under the Company’s corporate governance guidelines, the NYSE standards and the 10 Principles of Corporate governance of the Luxembourg Stock Exchange. Mr Lafont chairs the Committee and is also the board’s lead independent director.
The primary function of the Committee’s expanded focus on sustainability is to:
- Review the Company’s sustainable development plan and associated management systems and ensure the group is well positioned to meet the evolving expectations of stakeholders, including investors, customers, regulators, employees and communities;
- Report conclusions to the board and make recommendations for approval.
The Committee, which is required to meet at least twice a year, met eight times in 2017.