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INFORMATION REGARDING THE COMPANY AND CORPORATE GOVERNANCE
135
LISI 2015 FINANCIAL REPORT
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At the Board meeting of December 17, 2015 dedicated to
the presentation of the Company's 2016 budget, the Board
examined its corporate governance procedures via a new
self-assessment questionnaire. For the record, concerning
the percentage of independent directors, the Board had
acknowledged last year that it was in breach of the AFEP-
MEDEF Code, to which the Company refers, and had decided
to appoint two new independent directors within the next
two years to rectify the situation.
The Board set up a new performance share allocation plan
called 15C17 and laid down the rules applicable to it including
the precise performance criteria. Moreover, it approved the
set-up of a joint venture between its Aerospace division and
the company Poly-Shape for additive manufacturing.
2.2.2 Committee activities in 2015
Board Committees met six times during the financial year 2015
and the rate of meeting attendance of its members was 100%.
■■
Audit Committee:
the Committee met twice in 2015.
It heard the Auditors report on the performance of their
task and was informed by the Company’s Internal Control
Manager. Information relating to the consolidation perimeter
and to the off-balance sheet risks described in the appendix
to the consolidated financial statements was sent to the Audit
Committee, which submitted a report on its work to the Board
of Directors. The Committee also reviewed the impairment
tests, the control of the Group's major investments and the
risk of competing technological developments.
■■
Remuneration Committee:
the Committee met three times
in 2015.
It presented its recommendations to the Council on the rules
of remuneration of senior staff of LISI S.A., both fixed and
variable; it should be noted that in 2015, the variable part
called Bonus on Targets was linked to the achievement of
annual targets in terms of profitability (operating margin),
cash flow (free cash flow) and management (compliance with
the strategic and operational action plans). The Committee
also proposed to the Board the conditions for awarding the
2012 and 2015 performance share plans.
■■
Strategic Committee:
the Committee met once in 2015.
It reviewed the Group's 2015-2019 strategic plan presented by
the senior management of LISI S.A., together with the leaders
of the Aerospace and Automotive divisions and approved the
strategic orientations that were exposed to it in detail as well
as the key figures in this plan. It also took note of the key
issues that derived and that senior management intends to
address during financial year 2016.
2.3
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EMPLOYEES
2.3.1 Head count
2.3.1.1 Registered employees at period end by category
The table below shows the breakdown of Group staff by
category:
2015
2014
Difference
N/N-1
Management
1,064
965
10.3%
Supervisors
841
834
0.8%
Staff and workers
9,018
8,902
1.3%
Total
10,923 10,701
2.1%
2.3.1.2 Registered employees at period end by division
The table below shows a breakdown of Group staff by business
activity:
2015
2014
Difference
N/N-1
LISI AEROSPACE
7,087
6,957
1.9%
LISI MEDICAL
573
538
6.5%
LISI AUTOMOTIVE
3,241
3,186
1.7%
Holding company
22
20
10.0%
Total
10,923 10,701
2.1%
Temporary staff
engaged
680
803
-15.3%
2.3.1.3 Geographic distribution of the head count
The table below shows the breakdown of staff by geographic
area:
2015
as a % 2014 as a %
France
6,318 57.8% 6,116 57.2%
Europe (excl. France)
1,919 17.6% 1,861 17.4%
North American
continent
1,589 14.5% 1,626 15.2%
Africa
330 3.0% 318 3.0%
Asia
758 6.9% 780 7.3%
Mexico
9 0.1%
Total
10,923 100% 10,701 100%
2.3.1.4 Consolidated turnover 2015
EFTAW*
Voluntary
departures
Turnover rate
11,585
342
3.13%
* Equivalent full-time average wage.