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The group's organisation

Our governance

Find out more about FDJ's governance

The Board of Directors

  • is endeavoured to promote value creation by the Company over the long term by reviewing social and environmental issues related to its business.
  • determines strategic directions, reviews and decides on significant operations after examination by the Strategic Committee and the ad hoc committees, as the case may be.
  • appoints and dismisses executive corporate directors, sets their compensation, chooses the mode of organization of its governance, controls management, ensures the quality of the information provided to shareholders and to the markets, sets the annual financial statements, consolidated financial statements and prepares the management report, the consolidated management report and the forecast management documents.
  • in particular, the following items must be reviewed by the Board of Directors, after examination, if necessary, by the relevant committee(s): the annual budget including the gaming programme and the multi-year financial plans associated with strategic directions; and the multi-year strategic plan.
Comité de Direction



Directors appointed by the General Meeting
 

Stéphane Pallez - Chairwoman and CEO
L’Union des Blessés de la Face et de la Tête (UBFT) -
Association, represented by Olivier Roussel
Fédération nationale André Maginot des Anciens Combattants (FNAM) -
represented by Henri Lacaille
Marie-Ange Debon - Independent administrator
Xavier Girre - Independent administrator
Corinne Lejbowicz - Independent administrator
Pierre Pringuet - Independent administrator

Director representing the French State

Charles Sarrazin

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

Ghislaine Doukhan
Didier Trutt

Directors representing employees

Agnes Lyon-Caen
Philippe Pirani

Directors representing
employee shareholders

The director representing employee shareholders will be appointed by the General Meeting called to approve the financial statements for the year ending 31 December 2019.

Also attending the meetings of the Company’s Board of Directors in an advisory capacity only are the representative of the Economic and Labour Relations Council (Karim Dahdouh) and the General Economic and Financial Controller (Denis Vilain). The Government Commissioner (Alexandre Grosse) also sits on the Board of Directors in an advisory capacity.

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The Audit and Risks Commitee

It assists the Board of Directors with the analysis of the financial statements and financial information, major risk management policy and internal control. In addition to its legal responsibilities, the Audit and Risks Committee carries out the following tasks:

  • Monitor the financial reporting process and review the quality and reliability of the financial information produced by the Company;
  • Review the Company's financial communication policy and elements;
  • Examine, as part of the review of the financial statements, material transactions under which a conflict of interest could have occurred;

The members of the Audit and Risks Committee are as follows:

  • President: Xavier Girre
    Independent Board member
  • Corinne Lejbowicz
    Independent Board member
  • Charles Sarazin
    Board member representing the French state
  • Pierre Pringuet
    Independent Board member, Chairman of the Governance, Nominations and Remuneration Committee
  • Ghislaine Doukhan
    Board member appointed by the French State
  • Agnès Lyon-Caen
    Director representing employees
The Government Commissioner sits on the Audit and Risks Committee in an advisory capacity.

The Governance, Nominations and Remuneration Committee

  • is responsible for making proposals to the Board of Directors to achieve a balanced composition of the Board of Directors, by organizing a procedure to select future independent Board members. It carries out its own studies into potential candidates before beginning the process of selecting them.
  • is also responsible for reviewing and proposing to the Board of Directors all compensation and benefits components for corporate directors. It also makes a recommendation on the envelope and the terms and conditions for the distribution of the remuneration allocated to members of the Board.

The members of the Governance, Nominations and Remuneration Committee are as follows:

  • President: Pierre Pringuet
    Independent Board member 
  • Charles Sarazin
    Board member representing the French state
  • Marie-Ange Debon
    as Chairwoman of the CSR and Responsible Gaming Committee (Independent Board member)
  • Agnès Lyon-Caen
    Director representing employees
The Government Commissioner sits on the Governance, Nominations and Remuneration Committee in an advisory capacity.

The CSR and Responsible Gaming Committee

  • is in charge of reviewing CSR policy, reviewing the intersection between the policies enacted and the corporate strategic policy, supporting the actions and evolution of the Corporate Foundation's policy, issuing a decision on the action plan to prevent excessive gambling and underage gambling and promoting a reasonable practice of the gaming. It also validates the action plan to combat fraud and money laundering.

The members of the CSR and Responsible Gaming Committee are as follows:

  • President: Marie-Ange Debon
    Independent Board member
  • Olivier Roussel
    Board member appointed by the General Meeting of Shareholders
  • Fabienne Dulac
    Independent Board member
  • Didier Trutt
    Board member appointed on proposal by the French State
  • Philippe Pirani
    Director representing employees
The Government Commissioner sits on the CSR and Responsible Gaming Committee in an advisory capacity.

The Executive Committee

It manages the group's activity and supervises the good execution of its strategy.

It is composed of:

Stéphane Pallez

Stéphane Pallez

Chairwoman and CEO
Diplômée de l’Institut d’études politiques (IEP) de Paris et ancienne élève de ’Ecole nationale d’administration (ENA – promotion Louise Michel).
Stéphane Pallez est PDG de FDJ depuis novembre 2014. Reconduite à l’été 2019. Stéphane Pallez était précédemment Présidente directrice générale du Groupe de réassurance CCR et directrice Financière déléguée de France Télécom-Orange. De 1984 à 2004, Stéphane Pallez a exercé différentes fonctions à la Direction générale du Trésor au ministère de l’Economie et des Finances. Ancienne Administratrice suppléante de la Banque mondiale, elle a commencé sa carrière en tant que conseillère technique au cabinet du ministère de l’Economie et des Finances. Stéphane Pallez est membre du conseil d’administration de plusieurs sociétés françaises telles que CNP Assurances et Eurazeo.
Charles Lantieri

Charles Lantieri

Deputy CEO, Chairman of FDP and the FDJ Corporate Foundation
Diplômé de l’Ecole Polytechnique et de l’Ensae et de l’Ensae (École nationale de la statistique et de l’administration).
Charles Lantieri a rejoint FDJ en 2008, alors qu’il était adjoint au Directeur du Budget au ministère de l’Économie et des Finances. Il y a occupé différentes fonctions : pilotage de la politique budgétaire, préparation et exécution des lois de finances, ainsi que de la conduite des réformes de la gestion publique.
Il a débuté son parcours professionnel à l’Insee, où il menait des études de modélisation macroéconomique et de prévisions de moyen terme. Charles Lantieri a également été administrateur d’entreprises (Gaz de France, France Télévision, La Poste, Agence France Presse...) et d’institutions telles que : l’Institut Pasteur et l’Ecole Polytechnique.
Patrick Buffard

Patrick Buffard

Executive Vice-President Sales, Sports Betting, Media, TV Prod and Events
Diplômé de l’Essec.
Patrick Buffard a commencé sa carrière en 1987 en tant qu’attaché commercial au sein de l’Ambassade de France au Caire. En 1989, il travaille pour le Groupe Danone, où il occupe différentes fonctions marketing, stratégie et commerciale. En 2007, il rejoint le groupe FDJ en tant que Directeur général adjoint, en charge du Marketing et du Développement. Il devient Directeur général adjoint, en charge du Marketing, du Numérique, du Commercial en 2010, puis Directeur général adjoint, en charge du Marketing, du Numérique, du Commercial et des Opérations en 2014. Il est également Directeur général de la filiale de distribution FDJ Réseau, ainsi que membre du conseil d’administration de SLE (Services aux Loteries en Europe), en charge du développement du jeu européen EuroMillions.
Pascal Chaffard

Pascal Chaffard

Executive Vice-President Finance, Performance and Strategy
Diplômé de l’ESCP Europe.
Pascal Chaffard a rejoint le groupe FDJ en 1994, en tant que contrôleur de gestion de l’IT et des activités internationales.
En 1999, Pascal Chaffard prend la direction du projet de préparation du Groupe à l’euro, et participe à la refonte des jeux et des processus commerciaux. Parallèlement, il est en adjoint du responsable du back-office des jeux.
En 2001, il prend la direction du Contrôle de Gestion du Groupe puis, en 2006, de l’Offre Produit, avec la refonte de la stratégie des jeux de grattage et la préparation à l’ouverture à la concurrence des paris en ligne.
En 2010, il est nommé Directeur de la Stratégie et de la Transformation, puis en 2014 Directeur général adjoint, en charge de la Performance, de la Finance et de la Régulation.
Xavier Etienne

Xavier Etienne

Executive Vice-President Technology and International
Diplômé d’un Master d’Ingénierie, Télécom et Informatique de l’Institut Supérieur d’Electronique de Paris.
Xavier Etienne a débuté sa carrière en tant qu’ingénieur chez Alcatel Titn Answare. Il rejoint le groupe FDJ en 1994 en qualité d’ingénieur de développement, puis de Chef de projet.
En 1998, il devient Directeur Technique de SciGame France, une joint-venture avec le groupe Scientific Games. En 2001, il prend la Direction Générale de LotSys, la filiale technologique du Groupe, en charge du développement des plateformes digitales et des équipements points de vente.
Cécile Lagé

Cécile Lagé

Executive Vice-President Lottery, Entertainment and Consumers
Diplômée de l’Ecole Centrale Paris et de l’Essec.
Cécile Lagé a commencé sa carrière en 1990 au sein du Groupe Danone, où elle a occupé différentes fonctions marketing et commerciales, dont des postes de direction pendant dix ans. Elle rejoint le groupe FDJ en 2010, en tant que Directrice Marketing.
Elle est nommée Directrice Digitale et Innovation en 2014, puis Chief Digital Officer du Groupe et membre du Comité exécutif l’année suivante. Entre 2016 et 2018, elle occupe le poste de Directrice de l’Expérience Clients de l'activité Loterie.

 

Comité de Direction

The Group Management Committee

It shares the operational and financial goals, and manages the corporate functions and their work with the Business Units.

 

In addition to the members of the Executive Committee, it has the following members:

Pierre-Marie Argouarc’h

Pierre-Marie Argouarc’h

  • Employee Experience
  • and Transformation Director
Valérie Berche

Valérie Berche

  • Audit, Risk, Control, Quality and Ethics Director
Raphaël Botbol

Raphaël Botbol

  • Strategy, Innovation and M&A, Payment and Services Director
Richard Courtois

Richard Courtois

  • Sports Betting Director
Marion Hugé

Marion Hugé

  • Director of Regulatory and Public Affairs
Philippe Lemaire

Philippe Lemaire

  • Security Director
Sophie Metras

Sophie Metras

  • Clients Director
Elisabeth Monégier du Sorbier

Elisabeth Monégier du Sorbier

  • General Counsel
Yovan Obrenovitch

Yovan Obrenovitch

  • Information System Director
Vincent Perrotin

Vincent Perrotin

  • Group CSR Director
Raphaëlle Rabatel

Raphaëlle Rabatel

  • Communication and CSR Director

Capital

Capital structure as of December 31, 2019

 
% of capital      
French State 21.9% %
War veterans associations 14.8% %
Employees and former employees 4.4% %
 Public*
(ow. individuals ~19% at IPO)
*on January 8th 2020, Predica (a Crédit Agricole Assurances subsidiary) has announced a 5% holding in FDJ
58.9% %
Total 100% 0%

Pacte Law: a new fiscal and regulatory framework

To clarify the role of the government and regulate FDJ’s activity, the Pacte law confirms the principle of privatisation and defines its framework.

Four points are to note:

  • While it is not the government’s place to market games of chance, it will remain a shareholder so as to guarantee tight control of the company via its governance
  • A new independent regulatory authority, the French gaming regulatory authority (ANJ), has been created
  • FDJ’s contribution to the public finances, which represented €3.5 billion in 2018, or roughly 1% of central government revenue, will be maintained after privatisation
  • FDJ is subject to a new tax system based on gross gaming revenue, which will come into effect in 2020, and is now enshrined in law
This clarification is essential, and strengthens the Group’s business model in several ways:
  • More than 95% of stakes are derived from activities operated under a monopoly, which serves to highlight the robustness of the Group’s model. This monopoly was granted for 25 years
  • It includes online and point-of-sale lottery games, as well as point-of-sale sports betting
  • The other activities – essentially online sports betting – are open to competition

The French government will continue to exercise tight control over FDJ

As of 1 January 2020, FDJ benefits from a new regulatory framework offering both continuity and consistency for all gaming activities.

A new independent authority, the French gaming regulatory authority (ANJ), brings together the regulation of gaming activities in France, previously handled by several entities. It is led by Isabelle Falque-Pierrotin.

The government will continue to exercise control over the Group’s governance

Au-delà de la réglementation, l’Etat gardera un contrôle sur la gouvernance.

In addition to regulations, the government will keep very tight control over the Group’s governance.

The Ministry of Finance and the Ministry of Budget will approve the appointment of the Chief Executive Officer and Deputy Chief Executive Officer, as well as any changes to the company’s articles of association. It will also appoint a government commissioner, who will be allowed to take part in all meetings of FDJ’s Board of Directors. The commissioner will have an advisory role, but will have the possibility of rejecting decisions of the Board of Directors if they fail to comply with the framework governing the exclusive rights granted to FDJ.

Another form of control will apply to the company’s share capital. Any investor crossing a shareholding or voting threshold of 10% must be approved by the Ministry of Finance. However, approval may only be denied on serious grounds.

Lastly, an agreement and specific provisions have been established to define FDJ’s rights and obligations.