REGISTRATION DOCUMENT - Bourbon

3CorporateMANAGEMENT REPORTGovernanceMr. Marc FranckenDate of birth January 8, 1946INDEPENDENT DIRECTORFirst appointment: May 25, 2000Date term expires: General Meeting convened to rule on the fi nancialstatements for the fi nancial year ended December 31, 2011Chairman of the Nominating, Compensation and GovernanceCommitteeChairman of the Audit CommitteePositions held outside the Group- Honorary Chairman of Gevaert NV (Belgium)- Honorary Chairman of Union Remorquage et Sauvetage (Belgium)- Honorary Chairman of Technum, Tractebel (Belgium)- Director, Nederlands Loodswezen bv (Netherlands)- Director, Vlaams Economisch Verbond (Belgium)- Member of Koninklijke Vlaamse – Ingenieurs Vereniging –Fuggersocieteit – De Warande – Orde Van den PrincePositions that expired in the past five years- Director, University Hospital of Antwerp (Belgium)An electromechanical engineer and holder of a postgraduate diplomain business management from the University of Ghent (Belgium) andan MBA from Indiana University (USA), Marc Francken has also beena reserve Corvette Captain for the Belgian Navy. After an internationalcareer at Citibank and the World Bank (IFC), he followed a career inport and marine administration (Compagnie Maritime Belge). In 1989he joined the portfolio management Company Gevaert NV asManaging Director and became its Executive Chairman between 2002and 2006.Mr. Baudouin MonnoyeurDate of birth April 24, 1949DIRECTORBusiness address:MONNOYEUR SAS117, rue Charles-Michels – 93200 SAINT-DENISFirst appointment: May 30, 2008Date term expires: General Meeting convened to rule on the fi nancialstatements for the fi nancial year ended December 31, 2013Positions held outside the Group- Chairman of the Monnoyeur Group- France Council Member of INSEADPositions that expired in the past five years- Executive Vice President of Fédération des EntreprisesIndustrielles et Commerciales Internationales de la Mécanique etde l’Électronique (FICIME)- Chairman of the Board of Commerce de France and Member ofthe Executive Board of MEDEFA graduate of the Paris Institut d’Études Politiques and holder of anMBA from INSEAD. Baudouin Monnoyeur is Chairman of theMonnoyeur Group, a French family company created in 1906,specializing in building and engineering distribution and services,which is now established in several countries as distributor of brandssuch as Caterpillar, Mercedes Benz and John Deere. As ofDecember 31, 2011, Baudouin Monnoyeur held 5.35% of the capitalof BOURBON through Monnoyeur SAS.24BOURBON - 2011 Registration Document