Total Board Meeting Held in Abu Dhabi
Abu Dhabi, October 30, 2015: The Board of Directors of Total S.A., the international energy Group’s most senior decision making body, has held one of its regular quarterly Board Meetings in Abu Dhabi – the first time such a meeting has ever been held outside of Europe.
In addition to Corporate Governance, the Board is responsible for defining Total’s strategic vision and ensuring that it is implemented. It therefore addresses any issue related to the operation of the Group, including examining and approving major capital expenditures.
The Board is composed of 12 members elected at the Annual Shareholders’ Meeting. It includes 11 independent directors, one of whom represents Total's employee shareholders and another one representing the employees. The only ‘non-independent’ member is Total CEO, Patrick Pouyanne.
With four women and four non-French nationals included in the membership, its make-up reflects the diversity of the wider Total Group in terms of range of experience, gender, nationality and culture – enabling it to consider the interests of all shareholders.
In addition to holding their Meeting at TEP UAE’s offices in Abu Dhabi, the Board of Directors also went on a tour of the Bu Hasa field where Total is the Asset Leader under its new 40 year concession agreement with the Abu Dhabi Company for Onshore Petroleum Operations Limited (ADCO).
Speaking about the Board visit to Abu Dhabi, Hatem Nuseibeh, President of Total UAE, commented: “We are proud to have the Board of Directors of Total visiting the UAE and feel particularly honored that they should have chosen us for their first ever meeting outside Europe. That they have done so, I believe, speaks volumes about the importance of the UAE to Total and the strength of our ongoing partnership with Abu Dhabi. To be able to take the Board to the Bu Hasa field and let them see first-hand the tangible fruits of that partnership was personally very satisfying and a tremendous thrill.”