GRT gaz
Company Description
GRTgaz is a French société anonyme
75% of this company, whose structure is similar to that of a public limited company, is owned by ENGIE and 25% by Société d'Infrastructures Gazières, a public consortium comprised of CNP Assurances, CDC Infrastructure and Caisse des Dépôts and 0.35% by the employees of the company.
The company is run by a Board of Directors
The roles of Chairman of the Board of Directors and Chief Executive Officer are separate. Board Members are appointed for a five-year term and a Board Members' Charter sets out their rights and obligations.
The Board of Directors is comprised of 17 members:
- 14 Board Members appointed by the General Meeting of Shareholders, including:
- 9 representatives of the ENGIE Group
- 3 representatives of Société d'Infrastructures Gazières
- 2 independent Board Members
- 3 Board Members representing employees
The following are non-voting members of the Board of Directors:
- A French government commissioner;
- The CEO of GRTgaz;
- A representative of the Central Works Council;
- The Compliance Manager (as per art. L. 111-34 of the French Energy Code).
The board committees
The Board of Directors is organised into three consultant committees:
- The Investment Committee examines the investment policy and gives an overall opinion on investment proposals.
- The Accounts Committee ensures that suitable accounting methods are being applied, and examines and formulates an opinion on the accounts and financial proposals.
- The Remuneration and Selection Committee examines and formulates an opinion on the remuneration of Board Members and the CEO, as well as on applications for these positions.
