Annual report 2010 - Dexia.com

Declaration of corporate governanceThe Management Board of Dexia SACompositionManagement reportMajor changes occurred in the composition of the ManagementBoard and in the mandates exercised by its members withinthe Group following decisions taken by the Board of Directorson 13 November 2008, in particular to simplify the decisionmakingprocess and to reduce the management team fromten to five members.On 17 December 2010, the Board of Directors of theDexia Group approved the new composition of the Group’sManagement Board proposed by the Appointment andCompensation Committee.After publication on 12 October 2010 of the Dexia 2014strategic plan, a new management team, extended to tenmembers, was put in place, in order to provide the essentialskills to enable the Dexia Group to achieve the objectives ofits new strategic plan.The new composition of the Management Board came intoeffect as from 1 January 2011.As at 31 December 2010, the Management Board hasfive members and is chaired by the Chief Executive Officerto whom the Board of Directors has entrusted the dailymanagement of Dexia.The members of the Management Board, other than theChief Executive Officer, are appointed and dismissed by theBoard of Directors on the recommendation of the ChiefExecutive Officer. With the exception of the Chairman, theyare appointed for a term of four years which may be renewedunless there is a contrary decision by the Board of Directors.COMPOSITION AS AT 31 DECEMBER 2010Consolidatedfinancial statementsAdditional information Annual financial statementsPierre MARIANIChief Executive OfficerChairman of the Management BoardStefaan DECRAENEHead of Retail and Commercial Banking and AssetManagement and ServicesChairman of the Management Board of Dexia BankBelgiumNEW COMPOSITION AS FROM 1 JANUARY 2011Pierre MARIANIChief Executive OfficerChairman of the Management BoardHakan ATESChief Executive Officer of DenizBankAlain CLOTHead of Public and Wholesale BankingChief Executive Officer of Dexia Crédit localMarc CROONENHead of Human ResourcesStefaan DECRAENEHead of Retail and Commercial Banking and AssetManagement and ServicesChairman of the Management Board of Dexia BankBelgiumPascal POUPELLEHead of Public and Wholesale BankingChief Executive Officer and Chairman of the ManagementBoard of Dexia Crédit LocalPhilippe RUCHETONChief Financial OfficerClaude PIRETChief Risk OfficerAlexandre JOLYHead of Strategy, Portfolios and Market ActivitiesClaude PIRETChief Risk OfficerPhilippe RUCHETONChief Financial OfficerAndré VANDEN CAMPHead of Operations and IT SystemsOlivier VAN HERSTRAETENHead of Legal, Compliance and Tax42 Dexia Annual report 2010