Hermès - Registration Document 2016

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2016 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL 123
CORPORATE GOVERNANCE
3
REPORT FROM THE CHAIRMAN OF THE SUPERVISORY BOARD ON THE CORPORATE GOVERNANCE PRINCIPLES
Composition and operation of the Audit Committee as at
31 December 2016
The Audit Committee is composed of the following members:
s Monique Cohen, Chairman;
s Charles-Éric Bauer, member;
s Sharon MacBeath, member;
s Renaud Momméja, member;
s Robert Peugeot, member.
The composition rules, duties and operating provisions of the Audit
Committee are described in detail in the rules of procedure approved
by the Supervisory Board, and have existed since 24 March 2010.
Version No. 2 of the rules of procedure dated 8 July 2016 is provi-
ded on page 135, and each update is made available on the website
on the “Corporate Governance” tab, under
“Management Bodies /The specialized committees of the Supervisory
Board”. It was amended in 2016 in order to align the composition and
responsibilities of the Audit Committee with ordinance 2016-315 of
17 March 2016 on the statutory audit.
These rules provide that at least half of the members of the Audit
Committee must, at the time of their appointment and for the term their
office, be qualified as independent under the Supervisory Board’s rules
of procedure.
Before each Audit Committee meeting, Audit Committee members are
sent, in good time, with reasonable lead time and subject to confiden-
tiality requirements, a file containing documentation on items on the
agenda requiring prior analysis and review.
In 2016, the Audit Committee met six times (as in 2015).
Individual and average rates of attendance are indicated in the table
on page 115.
Summary presentation of the members of the Audit Committee
Name Independent
Specific expertise
in financial and
accounting matters
Date of
appointment Term of office
Length of service
on the committee
Monique Cohen (Chairman) √ √ 03/06/2014 2017 GM 3 years
Charles-Éric Bauer √ 26/01/2005 2019 GM 12 years*
Sharon MacBeath √ √ 31/05/2016 2019 GM 1 year
Renaud Momméja √ 03/06/2008 2017 GM 9 years
Robert Peugeot √ √ 03/06/2008 2018 GM 9 years
* Charles-Éric Bauer was appointed to the Audit Committee prior to his appointment to the Supervisory Board (prior to ordinance 2008-1278 of 8 December 2008,
there was no law requiring Board membership).