During the meeting of AXA’s Board of Directors, held on Wednesday, December 14, 2016, Mr. Norbert Dentressangle informed the directors of his decision to step down from the Board and his position as Vice-Chairman – Senior Independent Director with immediate effect to devote himself fully to the management of his family-owned investment holding company.
The Board of Directors decided to coopt Mr. André François-Poncet to the Board with immediate effect for the remainder of Mr. Norbert Dentressangle’s mandate, i.e. until the Shareholders’ Meeting in 2018. Ratification of his appointment will be proposed at the next Shareholders’ Meeting. Mr. André François-Poncet was chosen by the Board of Directors principally for his extensive experience and in-depth knowledge of the finance industry.
Mr. André François-Poncet, 57 years old, became a partner in CIAM investment company in September 2016. He had previously worked for over thirty years in the finance sector for Morgan Stanley and BC Partners in Paris, London and New York. Mr. André François-Poncet is a graduate of the Ecole des Hautes Etudes Commerciales (HEC) and the Harvard Business School.
The Board of Directors decided to appoint Mr. Jean-Martin Folz, a Board member since 2007, as Senior Independent Director to replace Mr. Norbert Dentressangle, confirming the importance it gives to the role of Senior Independent Director, even though the roles of Chairman of the Board and Chief Executive Officer have been separated.
On behalf AXA’s Board of Directors, I would like to address our warmest thanks to Norbert Dentressangle for his contribution to the work of the Supervisory Board and the Board of Directors for the past ten years. His entrepreneurship, strategic vision and role in the evolution of our corporate governance have been decisive for AXA’s development in the past years as well as for the success of the Company's recent succession plan. I wish him the best of luck in his future endeavors.
I am delighted that the Board has decided to appoint Jean-Martin Folz to replace him as Senior Independent Director. His depth of knowledge of the Group’s corporate governance framework and his strong involvement in the Board’s work, in particular that of the Compensation & Governance Committee which he has chaired since 2013, will enable him, I am certain, to rise to the challenge of his new position. I am also happy to welcome André François-Poncet.