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Résofil no.12 - May-June 2017
Winter Outlook 2017-2018
Val de Saône-A program to ensure competitiveness and security  of supply in France

The Board of Directors

GRTgaz is a French société anonyme

75% of this company, whose structure is similar to that of a public limited company, is owned by ENGIE and 25% by Société d'Infrastructures Gazières, a public consortium comprised of CNP Assurances, CDC Infrastructure and Caisse des Dépôts and 0.35% by the employees of the company.

 

The company is run by a Board of Directors

The roles of Chairman of the Board of Directors and Chief Executive Officer are separate. Board Members are appointed for a five-year term and a Board Members' Charter sets out their rights and obligations.

The Board of Directors is comprised of 17 members:

  • 14 Board Members appointed by the General Meeting of Shareholders, including:
    • 9 representatives of the ENGIE Group
    • 3 representatives of Société d'Infrastructures Gazières
    • 2 independent Board Members
  • 3 Board Members representing employees

The following are non-voting members of the Board of Directors:

  • A French government commissioner;
  • The CEO of GRTgaz;
  • A representative of the Central Works Council;
  • The Compliance Manager (as per art. L. 111-34 of the French Energy Code).
 

The board committees

The Board of Directors is organised into three consultant committees:

  • The Investment Committee examines the investment policy and gives an overall opinion on investment proposals.
  • The Accounts Committee ensures that suitable accounting methods are being applied, and examines and formulates an opinion on the accounts and financial proposals.
  • The Remuneration and Selection Committee examines and formulates an opinion on the remuneration of Board Members and the CEO, as well as on applications for these positions.