GRDF : Gas company’s strategic course for building future
In order to guide the gas company and set a strategic course for building the future, a Board of Directors is in charge of its governance. Here we set out its role, workings and composition.
Role of the Board of Directors
The Board of Directors deliberates on the gas company’s strategic, economic, financial and technological orientation, while ensuring that GRDF’s public service mission is implemented. It has a function of controlling the gas company’s budget and its financing and investment policy. It comprises three committees which prepare the work and decisions of the Board: the Investment Committee, the Audit and Accounts Committee, and the Remuneration Committee.
Composition and workings of the Board of Directors
Twelve directors sit on the Board: nine directors, two of whom are independent (Christian Pierret and Françoise Thiebault), are appointed by the GRDF General Meeting of Shareholders. Three more directors are elected by the gas company’s employees (Eric Beusson, Antony Lalo and Christophe Lime).
Philippe Jeunet is the current Chairman of the Board of Directors.
The directors have a four-year term of office. They hold at least one share in the capital of GRDF. Each director also has the right to vote in meetings of the Board.
The companies present on the Board of Directors are :
- ENGIE, represented by Didier Holleaux,
- COGNAC represented by Xavier Perret
- CELIZAN, represented by Marie-Ange Debon
- SFIG, represented by Bertrand Fauchet
- GDF Investissements 35, represented by Yvonnick David
- GDF International, represented by Marc Haestier
Other members of the Board of Directors :
- The Government Commissioner, Florence Tordjman, and the GRDF central works council representative, Jean-Philippe Buchon, acting in an advisory capacity.
- The CEO of GRDF, Edouard Sauvage, appointed by the Board of Directors. The Secretary of the GRDF Board of Directors, Olivier Béatrix.
- The GRDF Compliance Officer, Patrick Polchi, invited to meetings of the Board.
- The Auditor, summoned to meetings of the Board of Directors in which the gas company’s accounts are examined or approved.
GRDF, an independent operator
GRDF’s independence is reflected by a new information system, which is separate from that of ENGIE and is accessible, without discrimination, to all natural gas suppliers and which guarantees the confidentiality of their connection data.
It is also reflected by the fact that it has its own communication system and a specific code of good practice.