Delighting the retail world - Altavia

This has led to the legitimate calling into
question of how companies function, at
board level, which in turn has had a
series of benefi cial impacts.
Of particular note:
– more attention is being paid to the issues
of WCR and cash resources, which boards
sometimes see as too operational for
them to be worrying about.
– more involvement in the implementation
and monitoring of risk mapping, as well
as the development of analyses along
the lines of: “what would happen, if…?”
– rebalancing of the boards’ interests
between strategic and fi nancial aspects,
in favour of strategy, with a view to making
information more substantial and achieving
a more structured involvement in the
validation of the company strategy.
– fi nally, directors’ increased awareness
of their own, personal responsibility.
Altavia did not wait for the crisis in order
to pay more careful attention to the
management of WCR or to implement a
more rigorous risk mapping process.
Directors’ attention has been particularly
focused on the management of countryspecifi
c risks, essentially with regard to the
Group’s considerable international expansion.
It has also been a crucial period for Altavia
Group, which has seen a number of its
business areas evolving; how has the Board
of Directors supported these changes?
The Board has supported this approach
in a number of ways:
Since 2008, Raphaël Palti has sought
to implement a process whereby the
different administrative bodies involved in
the Group’s governance are more involved
in its strategy. This is refl ected in the initiative
to implement a medium-term business
plan, known as “MOVE” (Make Our Vision
Effective).
A Strategic Direction Committee meets
regularly to discuss ideas and thoughts
put forward by the management teams.
In return, this committee reinforces and
challenges the directions taken, or
draws the attention of managers to certain
aspects, in order to strengthen the Group’s
change initiative.
The Board also plays an important role
in thought leadership and discussions
on the subject of external growth and
diversifi cation of the Group. It encourages
coherence and consistency in our approach
as well as a focus on a limited number of
objectives which have considerable impact,
either in terms of business areas or
geographies, without of course excluding
realistic opportunities. It also exercises its
responsibility in the area of monitoring risks
relating to these projects and objectives.
Catherine Dunand has been a member
of Altavia’s Board of Directors since
May 2008.
She is a graduate of the Ecole Centrale
de Lyon and has an MBA from Insead.
She has managed national and
international profi t centres and multisite
organisations within large groups
such as Sanofi and Servier.
She also has experience of entrepreneurship
and management within
SMEs, particularly in partnership
with investment funds (Thermes
de Bagnoles de l’Orne).
Catherine Dunand serves as director
or chair of the board of directors for
listed and non-listed SMEs (Bioalliance)
and professional associations (CNETh,
thermalism).
She also participates in working
groups to discuss and refl ect on
the governance of SMEs (IFA, APIA).
Today, Catherine Dunand is the
chair of Promontoires, a company
that specialises in mentoring on
governance and strategy for SMEs
and their shareholders.
The Audit, Accounts and Investments Committee and the Appointments and
Compensation Committee challenge the group and drive it forward in the
management of its affairs.
The Audit, Accounts and Investments Committee
Michel Duval
Chairman
Nadine Michotey
Member of the Committee
The Appointments and Compensation Committee
Daniel de Botton
Chaiman
Michel Duval
Member of the Committee
Alain Roubach
Vice Chairman
François-Régis de Vulpian
Member of the Committee
Raphaël Palti
Founding Chairman and Chief
Executive Offi cer of Altavia
Philippe Geslin
Member of the Committee
Alain Roubach
Member of the Committee
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governance