Vivendi implements The AFEP/MEDEF recommendations of October 6, 2008
December 18th, 2008
Vivendi’s Supervisory Board, at its meeting on 18 December 2008, examined the AFEP/MEDEF* recommendations on the remuneration of executive directors of publicly-quoted companies.
The Supervisory Board, on the recommendation of the Corporate Governance Committee and the Human Resources Committee, decided to apply these recommendations in their entirety. It noted that most of these recommendations had already been widely anticipated and already apply to Vivendi’s executive directors.
The Supervisory Board confirms that the recommendations of the AFEP and MEDEF now constitute the corporate governance code to which Vivendi voluntarily subscribes when drawing up the report required by article L. 225-37 of the Code of Commerce.
The French Confederations for Private Enterprise and Governance.
A world leader in communications and entertainment, Vivendi is made up of Universal Music Group (#1 in music worldwide), Activision Blizzard (#1 in video games worldwide), SFR (#2 in mobile and fixed telecom in France), Maroc Telecom (#1 in mobile and fixed telecom in Morocco), Canal+ (#1 in pay-TV in France and Poland), and NBCU (20% in leading U.S. media and entertainment group). In 2007, Vivendi achieved revenues of 21.7 billion euros and adjusted net income of 2.8 billion euros. With operations in 77 countries, the Group has about 43,000 employees.