Technip’s Board of Directors constantly improves its corporate governance practices in order to comply with applicable French and American regulations as well as the recommendations on corporate governance of listed companies contained in the report published by France’s Afep-Medef in October 2003. As part of this ongoing improvement, the Board of Directors has drawn up a charter defining the rights and duties of board members, as well as a set of internal rules and regulations.
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All Technip’s activities are governed by the rules set out in the statement of the Technip’s Values and in the four charters that explain them in more detail, particularly the Ethics charter.

A specific charter setting out the rules governing the behaviour of Technip directors was put in place in April 2003.

 
 

Thierry Pilenko (Chairman and CEO)
Olivier Appert
Pascal Colombani*
Jacques Deyirmendjian*
Germaine Gibara*
Jean-Pierre Lamoure*
Daniel Lebègue*
Roger M. Milgrim*
John O’Leary*
Rolf Erik Rolfsen*
Bruno Weymuller

*Independent directors

The Board of Directors, which determines the Company’s strategic directions and monitors their implementation, met eleven times during 2006. In making decisions, the Board takes into account the recommendations of its three specialized committees.
At a meeting held on February 21, 2007, the Board discussed its operating practices and concluded that it operates in a very satisfactory manner and that important issues are prepared and debated in an appropriate manner.
In accordance with its internal rules, the Board must evaluate its operating policies at intervals of no more than 3 years.

 
 
The Board of Directors, which met immediately following the Annual General Shareholders Meeting on April 27, 2007, decided upon the composition of its Committees as follows:

Audit Committee
The Committee comprises: Daniel Lebègue (Chairman), Jacques Deyirmendjian, Roger M. Milgrim and John O’Leary.
The role of this committee is to enable the Board to ensure the quality of internal controls as well as the integrity of the information disclosed to shareholders and financial markets.

Nominations and Compensation Committee
The Committee is made up of Bruno Weymuller (Chairman), Pascal Colombani, Germaine Gibara, and Jean-Pierre Lamoure.
The purpose of this committee is to make recommendations to the Board on the appointment of directors and to examine the policy regarding compensation of Executive Committee members and top management within the Group.

Strategic Committee
Members of the Committee are: Jacques Deyirmendjian (Chairman), Olivier Appert, Pascal Colombani, Germaine Gibara and Rolf Erik Rolfsen. The main role of this committee is to examine Technip’s overall strategy (strategic orientations, plans and budgets, investments, acquisitions and disposal of assets) as proposed by the Company’s Chairman and CEO.

 
 
Titular Auditors
- Ernst & Young and Others
- PriceWaterhouseCoopers Audit

Alternate Auditors
- Cabinet Auditex
- Mr Yves Nicolas

Auditors are appointed for a period of six years. The current term is due to expire at the end of the Annual General Meeting of Shareholders convened to approve the accounts for the 2009 financial year.