2. Composition of the Executive Committee

Since October 1, 2007, the Executive Committee has been composed of 6 members of whose only the Chairman is a member of the Board of Directors.

2.1 Duration of mandates and age limit

No specific duration has been set for the term of a member of the Executive Committee. The age limit has been set as the age of retirement.

2.2 Criteria for designation and assessment

The Board of Directors has not set any specific criteria as to appointment of members of the Executive Committee. Using rigorous selection procedures carried out under the supervision of the Remuneration and Nomination Committee and in consultation with the Chairman of the Executive Committee with respect to colleagues, the Board ensures that the Committee's composition and powers provide a response to the need for implementation of the Board's strategy and the management of the Company at the time of appointment and over the entire organisation and that the members offer the range of skills and experience that the scale and complexity of the Company's business require.

The performance of members of the Executive Committee is assessed on an annual basis by the Remuneration and Nomination Committee.

2.3 Procedure for appointment and renewal

The Chairman of the Executive Committee is appointed by the Board of Directors on the proposal of the Remuneration and Nomination Committee.

The other members of the Executive Committee are appointed by the Board of Directors, on the recommendation of the Chairman of the Executive Committee and on the proposal of the Remuneration and Nomination Committee.