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Governance

Transparent and ethical management

Air Liquide ambition is to deliver long term performance and act responsibly. Effective and transparent governance principles ensure the confidence of our stakeholders in the company supervision, management and operations.

Stability and independence in corporate governance

The Board of Directors consists of 12 members. The members are chosen for their skills, their integrity, their independence and their determination to take into account the interests of all shareholders. The Board composition reflects the importance Air Liquide is giving to diversity, with 6 different nationalities, 5 women and 9 independent directors including a lead independent director.

6 different nationalities, 5 women and 9 independent directors

The Board complies with the AFEP/MEDEF Code of corporate governance for listed companies.

The Board has set up three committees, the Audit and Accounts committee, the Appointments and Governance committee and the Remuneration committee, in order to make proposals and prepare the decisions to be taken by the Board.

The Board of Directors of Air Liquide, in visit in Houston, USA, November 2014

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Internal governance

Air Liquide ambition is to deliver long term performance and act responsibly.

Air Liquide expects all its employees to behave ethically and in accordance with statutory and regulatory requirements in their daily business. The Group has deployed local codes of conduct to provide its employees with business principles, guidelines and training worldwide. Today 94% of our employees belong to subsidiaries having deployed codes of conduct. As new entities join the Group, they adopt the local code of conduct as well.

Air Liquide has designed and deployed worldwide an Industrial Management System (IMS), which provides a framework to drive safe and reliable performance throughout the Group. It includes the mandatory documents which govern the processes that the Group expects any subsidiary should put in place, and provide the collective technical know-how of the Group to assure continuous improvement in its operations. Over the last five years, 99 entities representing 91% of the Group's revenues have been audited.