Corporate Governance: Board of Directors
The board of director is comprised of 9 members. It is chaired by Henri Seydoux, founder and CEO of Parrot, joined by 4 men directors and 4 women directors. Currently, 6 members of the board are independent (last updated May 2019).
Parrot has adopted the MiddleNext corporate governance code; each year, the compliance is detailed in the Annual Report.
The term of office of the directors is six years. The board’s bylaws require the Board of directors to meet at least four times a year, and it may hold additional meetings if required by the economic situation or any specific events, usually the Board meets 6 to 10 times each year. The attendance rate to the Board is between 7 to 8 directors out of 9. Part of the payment of directors' compensation depends on their effective participation in the 4 board meetings whose agenda provides for the approval of quarterly accounts.
The principles of balanced representation on boards of directors which specify that the proportion of directors of each sex of the Company can not be less than 40% is respected with 44% of women on the Parrot Board of directors.
The board of directors is made up of three standing committees:
- the Audit Committee,
- the Appointments and Compensation Committee,
- the Strategy Committee.
More information on Corporate Governance is presented each year in Chapters 14 and 16 of the Annual report / Reference document.