Chapter 3 : Our Governance


It balances the interests of customers of the entities comprising the Group, societal issues and the respect for the cooperative values that form the basis of the identity of Crédit Agricole Group.

The governance of Crédit Agricole S.A., which is both the corporate centre of Crédit Agricole Group and the listed company that is a member of the CAC 40 index, holding company of the business lines, relies on:

  • A clear dissociation between executive functions and control and supervisory functions. Crédit Agricole S.A. has always operated in this way, even before the separation of responsibilities was legally mandated in the banking industry. In accordance with the law, the Chairman of the Board of Directors must be a Director of a Regional Bank. In accordance with the Articles of Association, he or she must also be the Chairperson of a Regional Bank. Since 2015, the Chairman of Crédit Agricole S.A. has also been Chairman of Fédération Nationale du Crédit Agricole. All of this strengthens the bond between the cooperative base and the listed company.
  • Majority representation of the Regional Banks on the Board of Directors (52% of voting Directors), reflecting Crédit Agricole S.A.’s capital structure and the provisions of the Articles of Association. The presence of Directors and Executive Officers who are a Regional Bank Chairperson or Chief Executive Officer maintains the commitment to mutual values and ensures a sustainable, fair development model for the entire Crédit Agricole Group and benefiting all stakeholders, including customers, mutual shareholders, shareholders, investors, suppliers and employees.
  • Technical expertise and managerial skills provided by the six independent Directors occupying or having held high responsibilities in major international groups. With the exception of the Strategy and CSR Committee, chaired by the Chairman of the Board, the Risk, U.S. Risk, Audit, Appointments and Governance and Compensation Committees are chaired by independent Directors.
  • The operational knowledge of the business lines and social service provided by the three Directors representing employees.

Through its collective intelligence, Crédit Agricole S.A.’s Board of Directors brings together:

  • extensive experience in banking, finance and insurance, with deep expertise in auditing and risk management;
  • in-depth knowledge of France’s regional economies, the foundation of the Group’s business, and, in most cases, official responsibilities at the local or national level;
  • experience as Directors of large corporates, mainly multinationals, in the service, technology and industry sectors;
  • recognised experts in governance and social responsibility issues.