On December 12, 2008, the Board of Directors adopted the Corporate Governance Code published by the AFEP-MEDEF in December 2008 as its reference code, in accordance with law n. 2008-649 of July 3, 2008 amending article L.225-37 of the French Commercial Code to bring it into line with new European legislation.

Management of the Company

On March 3, 2009, the Board of Directors elected to separate the offices of Chairman of the Board and Chief Executive Officer.