Special Committees
Finance Committee
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Finance Committee members
As of April 22, 2008, the Finance Committee had 4 members: Jacques de Chateauvieux (Chairman), Léo Apotheker, Henri Lachmann and Michel Pébereau.
Missions
The Finance Committee has the following principal missions:
- to review the Group's financial structure and the broad outlines of AXA's asset management policy;
- to examine plans to sell real-estate or equity interests with an appraised value exceeding the authorizations granted to the Management Board by the Supervisory Board;
- to review all material financial transactions involving AXA that are proposed by the Management Board; and
- to examine all acquisition plans in excess of €500 million.
Activity in 2007
The Finance Committee met four times in 2007. The global attendance rate was 89.47%. Within the framework of its principal missions such as described above the Committee notably focused on the following issues:
- examination of AXA's financial structure;
- examination of the financial resolutions proposed to the AXA shareholders' assembly;
- recommended dividend;
- acquisitions and disposals;
- share repurchase program;
- subprime and market funds;
- AXA Group exposure to ABS & CDO's/CLO's;
- credit risk update.