Composition
On April 26, 2017, the Finance Committee was comprised of five members: Mr. Ramon de Oliveira (Chairman), Mrs. Suet Fern Lee, Mrs. Doina Palici-Chehab, and Messrs. André François-Poncet and Stefan Lippe.
Four of these members were determined independent by the Board in accordance with the criteria set forth in the Afep-Medef Code.
Principal responsibilities
The principal missions of the Committees are:
- to examine and issue an opinion on any sureties, guarantees, endorsements and warrantees in favor of third parties, which exceed the delegations of power granted to the Chief Executive Officer by the Board of Directors;
- to examine and issue an opinion on any of the following:
- securities issuance giving a claim, whether directly or indirectly, to the Company's share capital,
- share repurchase programs proposed to the Ordinary Shareholders' Meeting,
- financing operations that might substantially change the Company's financial structure; - to examine any plan to perform a financial operation of significant size for the AXA Group, except for M&A transactions discussed directly at the Board;
- to examine any subject relating to the financial management of the AXA Group including:
- the policy on financial risk management,
- the liquidity and financing of the Group,
- capital and solvency; - to examine the impact on capital and solvency at Group level of the main orientations and limits of the Asset-Liability Management policy; and
- to review the risk appetite framework developed by the Executive Management for financial, insurance and operational exposures.