REGISTRATION DOCUMENT - Bourbon

MANAGEMENT REPORT3Corporate GovernanceMr. Laurent RenardDate of birth: July 25, 1953EXECUTIVE VICE PRESIDENT – CHIEF FINANCIAL OFFICERSINCE DECEMBER 5, 2005Business address:BOURBON33, rue du Louvre – 75002 PARISDate term expires: December 31, 2013Positions held outside the Group- Director, Noreva PharmaPositions that expired in the past five yearsNoneLaurent Renard gained a postgraduate degree from the École Supérieurede Commerce in Paris in 1975. He began his career with Royal DutchShell where he held various positions during a 24-year career with theRoyal Dutch Shell Group. Having assumed a variety of responsibilities inNiger, France, Oman, the UK and the Netherlands, Laurent Renard wasappointed Chief Financial Offi cer of Exploration-Production of ShellInternational at The Hague from 1997 to 1999. He then joined Technip in2000 before joining BOURBON in mid-2003 in the post of AdministrativeDirector of the marine branch. Since December 2005, he has beenBOURBON Executive Vice President, Chief Financial Offi cer.3.2.3 Additional information onthe corporate officersTo the Company’s knowledge, in the past fi ve years, no corporateoffi cer:3 has been found guilty of fraud;3 has been involved in a bankruptcy, receivership or liquidation;3 has been found guilty of any offense and/or been subject toany offi cial public sanction issued by any statutory or regulatoryauthority;3 has ever been prevented by a court of law from acting as amember of any administrative, management or supervisory bodyof any issuer, or from participating in the management or conductof the business of any issuer.3.2.4 Shares held by corporate officersPursuant to the provisions of Article 13 of the Bylaws in force atthe date of this Registration Document , each Director is required toown at least 300 shares of the Company. These must be held inregistered form.As of December 31, 2011, as far as the Company is aware, themembers of the Board of Directors and the corporate offi cers heldthe following number of shares in registered form:Number of shares held in registered form:DirectorsJacques d’Armand de Chateauvieux 12,114Christian d’Armand de Chateauvieux 4,892Henri d’Armand de Chateauvieux 183,327Guy Dupont 117,191Marc Francken 925Baudouin Monnoyeur 363Christian Munier 53,990Agnès Pannier-Runacher 330Vo Thi Huyen Lan 363Philippe Sautter 463Corporate officersChristian Lefèvre, CEO 216,503Gaël Bodénès, Executive Vice President 5,157Laurent Renard, Executive Vice President 74,536TOTAL 670,154BOURBON - 2011 Registration Document 29