AXA Adopts the Recommendations of AFEP-MEDEF Concerning the Compensation of Executive Officers
December 18 2008 - 1:15PM
PR Newswire (US)
PARIS, Dec. 18 /PRNewswire-FirstCall/ -- At the initiative of the
Management Board, the Supervisory Board of AXA examined today the
recommendations of AFEP-MEDEF dated October 6, 2008 concerning the
compensation of executive officers of listed companies. The
Supervisory Board and the Management Board consider that these
recommendations are in line with AXA's corporate governance
principles and noted that most of them were already implemented.
Consequently, in accordance with the French law of July 3rd, 2008,
the Supervisory Board and the Management Board have decided to
adopt all the AFEP-MEDEF recommendations(1) as AXA's reference Code
of corporate governance for purposes of AXA's report required by
article L.225-68 of the French Commercial Code. This report will be
published at the end of March 2009. This press release is available
on the AXA Group website: http://www.axa.com/ About AXA AXA Group
is a worldwide leader in Financial Protection. AXA's operations are
diverse geographically, with major operations in Europe, North
America and the Asia/Pacific area. For full year 2007, IFRS
revenues amounted to Euro 93.6 billion and IFRS adjusted earnings
to Euro 6.1 billion. AXA had Euro 1,281 billion in assets under
management as of December 31, 2007. The AXA ordinary share is
listed on compartment A of Euronext Paris under the ticker symbol
CS (ISIN FR0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA). The
American Depository Share is also listed on the NYSE under the
ticker symbol AXA. AXA Investor Relations Etienne Bouas-Laurent:
+33.1.40.75.46.85 Paul-Antoine Cristofari: +33.1.40.75.73.60
Emmanuel Touzeau: +33.1.40.75.49.05 George Guerrero:
+1.212.314.2868 AXA Media Relations Christophe Dufraux:
+33.1.40.75.46.74 Laurent Secheret: +33.1.40.75.48.17 Armelle
Vercken: +33.1.40.75.46.42 Chris Winans: +1.212.314.5519 IMPORTANT
LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING
FORWARD-LOOKING STATEMENTS Certain statements contained herein are
forward-looking statements including, but not limited to,
statements that are predictions of or indicate future events,
trends, plans or objectives. Undue reliance should not be placed on
such statements because, by their nature, they are subject to known
and unknown risks and uncertainties. Please refer to AXA's Annual
Report on Form 20-F and AXA's Document de Reference for the year
ended December 31, 2007, for a description of certain important
factors, risks and uncertainties that may affect AXA's business. In
particular, please refer to the section "Special Note Regarding
Forward-Looking Statements" in AXA's Annual Report on Form 20-F.
AXA undertakes no obligation to publicly update or revise any of
these forward-looking statements, whether to reflect new
information, future events or circumstances or otherwise. (1) The
recommendations of AFEP-MEDEF include the corporate governance
principles resulting from the consolidation of the reports of the
AFEP and the MEDEF dated 1995, 1999 and 2002, as well as the
recommendations concerning the compensation of executive officers
of listed companies dated January 2007 and October 2008.
DATASOURCE: AXA Group CONTACT: AXA Investor Relations, Etienne
Bouas-Laurent, +33-1-40-75-46-85, or Paul-Antoine Cristofari,
+33-1-40-75-73-60, or Emmanuel Touzeau, +33-1-40-75-49-05, or
George Guerrero, +1-212-314-2868, or AXA Media Relations,
Christophe Dufraux, +33-1-40-75-46-74, Laurent Secheret,
+33-1-40-75-48-17, or Armelle Vercken, +33-1-40-75-46-42, or Chris
Winans, +1-212-314-5519 Web Site: http://www.axa.com/
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