Supervisory and management boards become one

AXA chairman Jacques de Chateauvieux, wants to scrap AXA’s separate management and supervisory boards and have a single board of directors.

The change will be put to shareholders on 29 April 2010.

  • Jacques de Chateauvieux will remain a member of the new board
  • Henri de Castries, currently chairman of AXA’s management board, will become chairman and chief executive officer
  • Denis Duverne, currently group chief financial officer and a member of AXA’s management board, will join as deputy chief executive

AXA said the board will comply with the French code of corporate governance AFEP/MEDEF.

Unified governance

Henri de Castries said: “While the supervisory board and the management board proved their efficiency through the recent financial turmoil, the new organisation proposed by the supervisory board will simplify and unify our governance.”

“We are very ambitious for AXA and I very much look forward to continuing to lead and to serve AXA in the long term.”