AFEP/MEDEF recommendations on compensation of executive directors
Paris, November 27, 2008 – During its meeting of November 25, 2008, the Board of Directors of Nexans reviewed the AFEP-MEDEF recommendations issued on October 6, 2008 regarding compensation of executive directors of listed companies.
The Board considers that those recommendations are in line with the corporate governance approach of Nexans and has decided to implement them.
The Board has further decided that the AFEP-MEDEF code of corporate governance, as amended by these recommendations, shall constitute the code of corporate governance to which Nexans will refer to in preparing the report provided under Article L.225-37 of the French Commercial code, in accordance with Law n°2008-649 of July 3, 2008.
With energy as the basis of its development, Nexans, the worldwide leader in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry, building and Local Area Network markets. Nexans addresses a series of market segments from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear power, automotive, electronics, aeronautics, handling and automation. With an industrial presence in 39 countries and commercial activities worldwide, Nexans employs 22,800 people and had sales in 2007 of 7.4 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. More information on www.nexans.com