AXA (AXA) announced that it would propose a modification of the Group's existing corporate governance structure from a dual board structure to a single board structure with a board of directors.
The modification proposed by the Supervisory Board will streamline operational decision-making processes to prepare the Group for future challenges. This change is part of a natural and ongoing review of the strategy and the internal organization of the Group.
Under the new governance structure, Jacques de Chateauvieux would remain a member of the new board and Henri de Castries, currently Chairman of AXA's Management Board, would become chairman and chief executive officer.
Denis Duverne, currently group chief financial officer and a member of AXA's management board, will join the board as deputy chief executive officer and would also continue to oversee the Group's finance activities.
The new board will adopt an organization that is compliant with the recommendations of the French code of corporate governance AFEP/MEDEF.
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