Corporate governance code
of listed corporations

the governance code online

on the subject

Public consultation with a view to the revision of the Afep-Medef Code, carried out by Bertrand Fages, Professor at the University of Paris I. This consultation is open for 6 weeks and will conclude on 10 April 2018.
The general philosophy which has guided this revision is to make a constructive contribution to the debate on the tasks of the company and on its corporate purpose. The proposed amendments mainly focus on the tasks of the Board of Directors. Given the growing importance of non-financial issues in companies' strategies, it is proposed, following the example of foreign codes, that the Board of Directors should endeavour to improve the long-term value creation of the company, notably by taking into account the social, societal and environmental dimensions of its activities.

It is also proposed that the Board should carry out specific verifications regarding non-discrimination and diversity, by ensuring that the executive officers implement a policy in this area, notably with regard to the balanced representation of men and women on the leadership bodies, i.e. beyond the Board.

Furthermore, the draft revision includes certain areas of consideration proposed by the French Market Authority to Afep and Medef as well as proposals presented by Agnès Touraine and Stanislas Guérini concerning "Value sharing and societal commitment of companies" in the framework of the preparatory work for the PACTE bill.