Annual Report 2011 - Analist.be

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Corporate governance statementNumber of officesName of the listed companyGeorges Chodron de Courcel 6 / 6 Alstom S.A. (F)Bouygues S.A. (F)FFP (F)Groupe Bruxelles Lambert (B)Lagardère S.C.A. (F)Nexans S.A. (F)Victor Delloye 2 / 1 Pargesa Holding S.A. (CH)Groupe Bruxelles Lambert (B)Paul Desmarais, jr 11 / 1 Power Corporation of Canada (CDN)Power Financial Corporation (CDN)Great-West Lifeco Inc. (CDN)The Great-West Life Assurance Company (CDN)Canada Life Financial Corporation (CDN)IGM Financial Inc. (CDN)Pargesa Holding S.A. (CH)Groupe Bruxelles Lambert (B)GDF SUEZ (F)Lafarge (F)Total S.A. (F)Ian Gallienne 3 / 1 Groupe Bruxelles Lambert (B)Imerys (F)Lafarge (F)Gérard Lamarche 4 / 4 Groupe Bruxelles Lambert (B)International Power Plc (GB)Legrand (F)Suez Environnement Company (F)Maurice Lippens 1 / 1 Groupe Bruxelles Lambert (B)Michel Plessis-Bélair 8 / 1 Power Corporation of Canada (CDN)Power Financial Corporation (CDN)Great-West Lifeco Inc. (CDN)The Great-West Life Assurance Company (CDN)Canada Life Financial Corporation (CDN)IGM Financial Inc. (CDN)Pargesa Holding S.A. (CH)Groupe Bruxelles Lambert (B)Gilles Samyn 5 / 1 Affichage Holding S.A. (CH)Groupe Flo S.A. (F)Métropole Télévision (M6) (F)Pargesa Holding S.A. (CH)Groupe Bruxelles Lambert (B)Amaury de Seze 8 / 4 Carrefour S.A. (F)Power Financial Corporation (CDN)Pargesa Holding S.A. (CH)Groupe Bruxelles Lambert (B)Suez Environnement Company (F)Imerys (F)Publicis Groupe (F)Thales (F)Jean Stéphenne 2 / 2 Groupe Bruxelles Lambert (B)IBA (B)Gunter Thielen 2 / 2 Groupe Bruxelles Lambert (B)Sixt AG (D)Arnaud Vial 2 / 1 Pargesa Holding S.A. (CH)Groupe Bruxelles Lambert (B)132 Annual Report 2011
1.2.5. Family ties between members of the Board of Directors• Paul Desmarais is Paul Desmarais, jr’s father.• Albert Frère is Gérald Frère’s father and Ian Gallienne’sfather-in-law.• Gérald Frère is the brother-in-law of Thierry de Rudderand Ian Gallienne.1.2.6. Management expertise and experience of membersof the Board of DirectorsAmong the criteria laid down for the selection of Directors is theirexpertise and experience in management and finance.The activity exercised and offices held by each of the Directorsreflect the expertise and experience of each one.1.2.7. Absence of conviction for fraud or of public incriminationand/or penaltiesOver the last five years, there have been no convictions forfraud, public incrimination and/or official penalties enactedagainst any of the Directors by the statutory or regulatoryauthorities.Likewise, over the last five years, none of the Directors hasever been prohibited by a court from acting in the capacityof member of a management body or from taking part in themanagement or conduct of an issuer’s activities.1.2.8. Bankruptcy, placing in receivership or liquidationof companies in which a Director has had ties as a boardmember over the last five yearsNone of the Directors has ever been associated with abankruptcy, placing in receivership or liquidation, with theexception of Victor Delloye and Gilles Samyn. They declarethat, as members of the Board of Directors of Loverfin S.A.,they were involved in the dissolution and winding up (includingthe distribution of the incentive earnings) of this company byunanimous agreement of the shareholders, on 19 December2003, as part of an employee profit sharing scheme ofCompagnie Nationale à Portefeuille S.A. The finalisation of thewinding-up of Loverfin S.A. was approved on 11 June 2007.Arnaud Vial was involved in the dissolution of SIB InternationalBancorp in 2008.1.2.9. Potential conflicts of interests between members of the Boardof DirectorsThe following theoretical potential conflicts of interests havebeen identified:• Albert Frère is Vice-Chairman and Managing Directorof Pargesa Holding S.A. and holds different directorshipsin Frère-Bourgeois/CNP-NPM group.• Gérald Frère is Vice-Chairman of Pargesa Holding S.A.and holds different directorships in Frère-Bourgeois/CNP-NPM group.• Gilles Samyn is Managing Director of Frère-Bourgeoisand of Compagnie Nationale à Portefeuille S.A. He is alsoa Director of Pargesa Holding S.A.• Victor Delloye is a Director of Pargesa Holding S.A. andalso holds different directorships in Frère-Bourgeois/CNP-NPM group.• Paul Desmarais, Paul Desmarais, jr, Michel Plessis-Bélairand Arnaud Vial are Directors of Pargesa Holding S.A.and hold different directorships in Power Corporationof Canada group.• Amaury de Seze is a Director of Pargesa Holding S.A.and Erbe, a Frère-Bourgeois/CNP-NPM group company,and Vice-President of Power Financial Corporation.• Arnaud Vial is Senior Vice-President of Power Corporationof Canada and of Power Financial Corporation.• Georges Chodron de Courcel is Chief Operating Officerof BNP Paribas.• Thierry de Rudder was a Director of Compagnie Nationaleà Portefeuille S.A. until 3 October 2011.• Ian Gallienne is Managing Director of Ergon Capital Partners,Ergon Capital Partners II and Ergon Capital Partners III.1.2.10. Arrangements or agreements concluded with the mainshareholdersThe Company has not concluded with its main shareholdersany arrangements or agreements by virtue of which theDirectors would have been selected as members of the Boardof Directors.1.2.11. Shares held in GBL’s capital (shares and options)on 6 March 20121.2.11.1. Shares• Paul Desmarais owns 500 GBL shares.• Thierry de Rudder owns 50,334 GBL shares.• Gérald Frère owns 183,014 GBL shares.• Ian Gallienne owns 6,500 GBL shares.• Jean Stéphenne owns 370 GBL shares.• No other Director directly holds any shares in GBL’s capital.1.2.11.2. OptionsAs of 31 December 2011, Albert Frère, Gérald Frèreand Thierry de Rudder held the following options:Option plan Number of options allotted (1)AlbertFrèreGéraldFrèreThierryde Rudder2007 44,885 18,935 18,9352008 60,561 25,548 25,5482009 90,230 38,065 38,0652010 59,822 25,237 25,2372011 73,570 29,428 29,428(1) One option giving entitlement to the acquisition of one GBL shareThe other members of the Board of Directors are notconcerned by these option plans.Corporate governance statementAnnual Report 2011 133
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Annual Report2011 Groupe Bruxelles
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Responsible persons1 Responsibility
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Message to shareholdersLadies and G
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Stock Exchange dataShareholder info
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Selected Portfolio and financial ad
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Consolidated result analysisThe tab
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Consolidated figures IFRSIn 2011, t
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20 Annual Report 2011
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Total is a global, integrated oil a
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GDF SUEZ is a world reference energ
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Overview of the activities - GDF SU
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The world’s co-leader in Wine & S
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Main financial data30 June 2011 30
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With a presence in 64 countries, La
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Environment variables and operating
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Data on Stock Exchange and on GBL
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Percentage of share capital .......
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Environment variables and operating
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Suez Environnement is a global lead
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Overview of the activities - Suez E
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Overview of the activities - Arkema
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Overview of the activities - Arkema
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Other investmentsIberdrola(http://w
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66 Annual Report 2011
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Consolidated balance sheet at 31 De
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Consolidated statement of changes i
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Accounting policiesGroupe Bruxelles
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Non-current assets held for sale an
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Pension liabilities and similar obl
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When such estimates are established
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Page 99 and 100: In EUR millionLand andbuildingsMine
Page 101 and 102: 11. InventoriesIn EUR million 2011
Page 103 and 104: Bank loans (GBL)GBL drew on its cre
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Page 107 and 108: Asset plan distributionIn % 2011 20
Page 109 and 110: 18. Other current liabilitiesIn EUR
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Page 118 and 119: Statutory Auditor’s report116 Ann
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Page 122 and 123: Dividend policyThe profit appropria
Page 124 and 125: Accounts at 31 December 2011 - Hist
Page 126 and 127: Corporate governance statementIan G
Page 128 and 129: Corporate governance statement1.1.2
Page 130 and 131: Corporate governance statementGéra
Page 132 and 133: Corporate governance statementAmaur
Page 136 and 137: Corporate governance statementThe a
Page 138 and 139: Corporate governance statementThe t
Page 140 and 141: Corporate governance statement3.2.
Page 142 and 143: Corporate governance statement3.4.1
Page 145 and 146: 6. Risk management and internal con
Page 147 and 148: Six specific risks have been identi
Page 149 and 150: 7. Policy on conflicts of interestC
Page 151 and 152: Extract of the minutes of the meeti
Page 153 and 154: Chain of ownershipPaul G.Desmarais6
Page 155 and 156: 9.3.3. Organisation chart of shareh
Page 157 and 158: 11.9. Capital11.9.1. Issued capital
Page 159 and 160: Resolutions proposed to shareholder
Page 161 and 162: • Regent and Member of the Budget
Page 163 and 164: Paul DesmaraisVice-Chairman of the
Page 165 and 166: • Director of 152245 Canada Inc.
Page 167 and 168: List of activities and other mandat
Page 169 and 170: • Director of Pargesa Holding S.A
Page 171 and 172: • Director of Great-West Lifeco I
Page 173 and 174: Amaury de SezeDirectorList of activ
Page 175 and 176: • Director of 4400046 Canada Inc.
Page 177: Gross annual returnThe gross annual
Page 180: Groupe Bruxelles Lambertwww.gbl.be
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