The Board of Directors determines our strategic orientations

 

Grande table de réunion de la salle du Conseil, Tour Coupole

The Board of Directors is the decision-making body of our Group. Its role is to define the Group's strategic orientations, assisted by four committees (the Audit Committee, the Governance & Ethics Committee, the Compensation Committee and the Strategy & CSR Committee). It is composed of 12 directors, including 9 independent directors. The Board offers a diverse and synergistic range of experience, nationalities and cultures and takes into account the interests of all the shareholders.

12  
members of the Board of Directors
95 %  
attendance rate in 2018
10  
meetings held in 2018

Defining Total's Strategic Orientations

The Board of Directors defines the strategic orientations of Total and its businesses and ensures its implementation. As part of this mission, among others, the Board approves proposed investments or divestments involving amounts exceeding 3% of shareholders' equity. It addresses any and all issues related to the Company’s effective operation. It monitors the management of both financial and non financial matters and ensures the quality of the information provided to shareholders, and convenes and sets the agenda for Annual Shareholders' Meetings.

The Board meets at least four times a year and whenever circumstances require. It also reviews and discusses its own practices annually, and evaluates its own performance at least once every three years.

Diversity is of Key Importance in the Board’s Composition

50 %  
(1)
women in the Board of Directors

Our Board of Directors places a great deal of importance on its composition and the composition of its Committees. In particular, it relies on the work of the Governance & Ethics Committee, which reviews annually and proposes, as circumstances may require, desirable changes to the composition of the Board of Directors and Committees based on the Group's strategy.

At the end of the Ordinary Shareholders' Meeting of May 29, 2019, the Board of Directors comprises 12 members, including a director representing employee shareholders and a director representing employees. The Board includes seven women and five men, four of whom are non-French nationals. The proportion of directors of each gender therefore exceeds the 40% threshold in accordance with the provisions of Article L.225-18-1 of the French Commercial Code.

Directors are elected to a three-year term at the Annual Shareholders' Meeting, with the exception of the director representing employees who is designated by the Central Works Council (replaced by the Central  Social and Economic Committee in December 2018).

(1)Composition of the Board at the end of the Ordinary Shareholders' Meeting of May 29, 2019; excluding the director representing employees, in accordance with Article L.225-27-1 of the French Commercial Code and the director representing employee shareholders, in accordance with Article L.225-23 of the French Commercial Code.

Director Independence is a Key Factor in the System of Checks and Balances

Independence is critical to performing the duties of a director, as it ensures freedom of analysis, judgment, decision-making and action. All TOTAL S.A. directors agree to comply with the Boards of Directors' rules of procedure and in particular to notify the Chairman of the Board of Directors and the Lead Independent Director of any personal or potential conflict of interest that may arise with the Company or any other company in the Group.

The Board of Directors uses the criteria set out in the AFEP-MEDEF Corporate Governance Code of Listed Corporations to assess independence. Directors are considered  to be independent if they have "no relationship of any kind whatsoever with the corporation, its group or the management that may interfere with his or her freedom of judgement." Currently, 90%* of the Board members are independent, superior to the recommendation (in the AFEP-MEDEF Code of at least 50% in widely-held companies with no controlling shareholders).

* Excluding the director representing employee shareholders and the director representing employees, in accordance with the recommendations of the AFEP-MEDEF Code (point 8.3).

The 4 Committees of the Board of Directors

Thierry Desmarets lors de l'assemblée générale 2016 de Total au Palais des Congrès.

Biographies of the Members of our Corporate Governance Bodies

Profile, experiences and expertises: read the biographies of the members of the Board of Directors and General Management.