VETOQUINOL Corporate brochure 2010 (year 2009)

26 REPORT TO SHAREHOLDERS GROWTH AND PERFO MOMENTUM RESPONSIBLE CORPORATE GOVERNANCE Vétoquinol is committed to conducting its business in a thorough and ethical manner, and undertakes to comply with relevant laws, regulations and best market practices. Pursuant to Act No 2008-649 of July 3 rd 2008, adopted by decree dated December 8 th , 2008, the Board of Directors has decided to adopt the corporate governance code for listed companies developed by AFEP-MEDEF 1 in December 2008 as a reference. The Group’s intention is to enable its shareholders to benefit from its growth. Beyond compliance with legal and regulatory provisions, Senior Management is committed to safeguarding the interests of all stake- holders in the Group’s business activities: shareholders, banks, customers, suppliers and employees. The General Management of the Group is currently the responsibility of the Managing Director, who is also the Chairman of the Board of Directors, assisted by the Deputy Managing Directors. As of April 1 st 2010, the roles of Managing Director and Chairman of the Board will be split. The Board of Directors, for which its Chairman is responsible, determines the Group’s strategic orientations and oversees their implementation. The Chairman of the Board of Directors organises and directs the work of the Board, on which he reports to the annual general meeting of shareholders. He sees to the proper working of the various component entities of the company and, in particular, he ensures that the directors are in a position to fulfil their assignments. The Board of Directors consists of eight members, two of whom are independent directors.