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GOVERNANCE

FDJ Governance: Overseeing the creation of value

The FDJ Board of Directors’ role

FDJ’s board of directors is particularly focused on creating long-term value, while considering the social and environmental impact of its business activities. It is responsible for setting strategic roadmaps, making decisions about the most important and impactful operations such as external growth, and nominating company representatives. The board of directions also sets compensation and oversees the company’s governance. The Board monitors the management of the company and the quality of the information provided to the markets and to shareholders. Elsewhere, the board finalises the financial statements, and establishes financial reviews and management planning documents. The Board also examines the annual budget and multiyear strategic plan upon recommendation from the relevant committees.

“The board of directors is made up of administrators from a wealth of complementary backgrounds, experiences, and expertise. I think that is what gives strength and quality to our board of directors in carrying out their duty.”

Stéphane Pallez Chairwoman and CEO

FDJ Board of Directors

Stéphane Pallez

Chairwoman and CEO

Olivier Roussel

Olivier Roussel

Permanent representative of l’Union des blessés de la face et de la tête (UBFT)

Jacques Sonnet

Jacques Sonnet

Permanent representative of Fédération nationale André Maginot des anciens combattants et victimes de guerre (FNAM)

Florence Barjou

Florence Barjou

Independant Director - Permanent representative of Predica

Fabienne Dulac

Fabienne Dulac

Independant director

Portrait Xavier Girre

Xavier Girre

Independant director
Chairman of the Audit and Risks Committee

Françoise Gri

Françoise Gri

Independant director
Chairwoman of the CSR and Responsible Gaming Committee

Philippe Lazare

Philippe Lazare

Independant director
Lead Director, Chairman of the CGNR

Corinne Lejbowicz

Independant director

Charles Sarrazin

Charles Sarrazin

Board member representing the French state

Ghislaine Doukhan

Ghislaine Doukhan

Board member appointed by the French State

Didier Trutt

Didier Trutt

Directors appointed by the General Meeting on the proposal of French government

Agnès Lyon-Caen

Agnès Lyon-Caen

Director representing employees

Didier Pitisi

Director representing employees

David Chianese

David Chianese

Director representing employee shareholders

Also attending the Board of Directors meetings in an advisory capacity:

Pascal Chèvremont

General Economic and Financial Controller

Sébastien Devillepoix

Representing the Central Economic and Labour Relations Council

Etienne Genet

Government Commissioner

Articles of association and Internal regulations of the board


Board committees

This committee assists the board of directors with analyses of financial statements  and financial information, major risk management policy, and internal control. Its responsibilities are as follows:

  • Trace financial information to its source to examine the quality and reliability of the financial information produced by the company.
  • Examine the company’s financial communication policy.
  • Examine the financial statements and study important operations that could be subject to a conflict of interest.
  • Analyse the overall risk management policy, based on pre-defined risk charts.
  • Oversee the development of internal control systems.
  • Scrutinise strategic deals, acquisitions, mergers, and other significant deals before submitting them to the board of directors.
  • Supervise the procedure of nominating or renewing an external auditor and carry out a review into the decision.

Xavier Girre

Independant director
Chairman of the Audit and Risks Committee

Corinne Lejbowicz

Independant director

Charles Sarrazin

Board member representing the French state

Philippe Lazare

Independant director
Lead Director, Chairman of the CGNR

Ghislaine Doukhan

Board member appointed by the French State

Agnès Lyon-Caen

Director representing employees

David Chianese

Director representing employee shareholders

Florence Barjou

Independant Director - Permanent representative of Predica

FDJ shareholdings as at 27/04/2023

FDJ shareholders as at 27 April 2023 are:

  • French government: 20%
  • Veterans’ charities: 15%
  • Employee co-ownership: 4%
  • Predica: 5%
  • Under 5% held by French and international institutional investors and individual shareholders

Government control over FDJ governance

Following consultation with the French gaming regulation authority (ANJ), the Ministry of the Economy and the Ministry of the Budget approved the appointment of the President and Chief Executive and the Deputy Chief Executive Officer of FDJ, as well as all modifications proposed to the company statutes.

The Minister for the Budget also nominates a government commissioner, who sits in a consultative capacity on the FDJ board of directors and in its committees. The commissioner can obtain any and all information and carry out the verifications necessary to fulfilling their mission. They can also express opposition to deliberations around previsional budgets, expenditure, and company investments.

There is another form of government control over the company’s share capital. Certain shareholders who exceed a participation threshold or vote count of 10% must be approved by the Ministry of Finance. Authorisation can only be refused, though, for a limited number of reasons set by law.

Finally, there is a convention and a bill of specifications in place that lay out FDJ’s rights and obligations.