Management Board

Missions

The Management Board is AXA's collegial decision-making body for management matters. Members of the Management Board devote substantially all of their professional time to management of the Group and do not hold outside directorships or engage in professional activities outside the AXA Group that interfere with or impede in any material way their availability to focus on the Group and its business.

While the Management Board operates as a collective decision-making body under French law, each Management Board member has been assigned responsibility for a specific area of the Company's management.

Alfred Bouckaert is Chief Executive Officer for Northern, Central and Eastern Europe businss unit.

Christopher Condron is President and CEO of AXA Financial, Inc. (United States). He is also Global Head of Life & Savings and Health.

Denis Duverne is responsible for Group strategy, finance and operations.

François Pierson is Chairman and CEO of AXA France, responsible for Large Risks, Assistance and AXA Canada. He is also Global Head of Property & Casualty.

Operating procedures

The Management Board operates in accordance with the Company's Bylaws and the Rules of Procedures of the Supervisory Board and Management Board. It generally holds weekly meetings to discuss Group strategy and operations.

The Management Board is assisted by an Executive Committee, which principal mission is to review AXA Group's strategy. The Executive Committee is an internal management committee composed of members of AXA's Management Board and other key senior executives from across the Group selected on the basis of their role in the organization (central or local). The seven principal business units of the Group represented on the Executive Committee are: Mediterranean and Latin American region; Northern, Central and Eastern Europe region; United States; Asia-Pacific region and Japan; United Kingdom and Ireland; AXA Investment Managers; France / Canada / AXA Corporate Solutions Assurance / AXA Assistance.

The Executive Committee is comprised of the following sixteen members, including nine non-French nationals:

• Alfred Bouckaert: Member of the Management Board, Chief Executive Officer for the Northern, Central and Eastern Europe business unit
• Dominique Carrel-Billiard: Chief Executive Officer of AXA Investment Managers
• Henri de Castries: Chairman of the Management Board
• Christopher Condron: Member of the Management Board, President and Chief Executive Officer of AXA Financial, Inc. (United States). Global Head of Life & Savings and Health.
• John R. Dacey: Chief Executive Officer for the Japan, Asia-Pacific business unit
• Denis Duverne: Member of the Management Board, responsible for Group strategy, finance and operations
• Philippe Egger: Chief Executive Officer of Insurance activities in Switzerland
• Jean-Laurent Granier: Chief Executive Officer of the Mediterranean and Latin America region business unit
• Gérald Harlin: Group Chief Financial Officer
• Frank Keuper: Chief Executive Officer of AXA Konzern AG (Germany)
• Peter Kraus: Chairman & CEO of AllianceBersntein
• Nicolas Moreau: Chief Executive Officer of AXA UK-Ireland and Chairman of the Board of Directors of AXA Investment Managers
• Mark Pearson: Chief Executive Officer of AXA Life Japan and AXA Japan Holdings
• Andrew Penn: Chief Executive Officer of AXA Asia-Pacific Holdings (Australia)
• François Pierson: Member of the Management Board, Chairman and Chief Executive Officer of AXA France, responsible for Large Risks, Assistance and AXA Canada. Global Head of Property & Casualty.
• Véronique Weill: Group Chief Operating Officer (COO)

The Executive Committee conducts quarterly business reviews (QBRs), during which performance of the AXA Group is reviewed. These reviews were introduced in 2000 to provide a clear and consistent framework for:

• reviewing operational performance and monitoring the progress of key projects using quantifiable standards of measurement defined in collaboration with the Management Board;
• assessing the status of Group transversal projects; and
• exchanging ideas and information on key Group strategic orientations.

As an internal management committee, the Executive Committee has no formal decision making authority. The Executive Committee is a sharing and communication body as well as a sounding board for the Management Board. Its members use their collective knowledge to discuss and orient global business issues, as well as to provide peer review opportunities within the Executive Committee itself. In particular, they provide views to the Management Board on key business issues. As a team, they also contribute to shape and disseminate AXA's management culture.