ourexpertise - Crédit Agricole CIB

2CORPORATE GOVERNANCEAudit reports and had 12 meetings or other contacts outsideCommittee meetings: three with Executive Management; twowith the Finance function; one with Risks; two with Internal Audit;one with Compliance and three with the Statutory Auditors.A presentation of the Audit Committee’s work was made by theCommittee Chairman to the Board of Directors. At the January2010 Board meeting, a summary of the Committee Chairman’ssupervisory work was presented in the absence of a Committeemeeting early in the year.The Audit Committee may at any time make proposals to theBoard of Directors relative to the Audit Committee’s organisationand composition.Composition of the Executive ManagementLimits placed by the Board of Directors on the powers of the ChiefExecutive OfficerMr. Jean-Yves Hocher was appointed Chief Executive Offi cerat the 1 December 2010 meeting of the Board of Directors, toreplace Mr. Patrick Valroff, the company’s Chief Executive Offi cesince the 14 May 2008 meeting of the Board of Directors. At31 December 2010, the functions of Deputy Chief ExecutiveOffi cers were exercised by Mr. Pierre Cambefort and Mr. FrancisCanterini. Further to the Chief Executive Offi cer’s proposal theywere appointed by the 1 December 2010 Board meeting.Mr. Pierre Cambefort had previously been designated DeputyChief Executive Offi cer effective as of 1 September 2010 toreplace Mr. Jérôme Grivet whose term of offi ce expired on 31August 2010 in order to exercise other functions within the Group.Mr. Francis Canterini was designated Deputy Chief ExecutiveOffi cer effective 1 December 2010 to replace Mr. Alain Massierawhose term of offi ce expired on 1 December 2010 in order toexercise other functions within the Group.The limits placed on the powers of the Chief Executive Offi cer arespecifi ed hereinafter as well as in the presentation of the powersof the Board of Directors on page 38.The Board rules stipulate that in the performance of his dutiesthe Chief Executive Offi cer is required to comply with the internalcontrol rules that apply within the Crédit Agricole Group, thestrategies defi ned and the decisions taken, as well as the powersconferred by law or Board rules to the Board of Directors orthe annual general meeting. They also stipulate that the ChiefExecutive Offi cer is required to refer all signifi cant projectsconcerning the Company’s strategic decisions or that may affector alter its fi nancial structure or scope of activity, to the Board ofDirectors, requesting instructions. In addition, as mentioned in the« Powers of the Board of Directors« section on page 38 as a purelyinternal limitation that is not binding on third parties, the ChiefExecutive Offi cer is required to obtain prior authorisation from theBoard of Directors or its Chairman before entering into certaintypes of transactions.44SHELF-REGISTRATION DOCUMENT CRÉDIT AGRICOLE CIB 2010