APC 2015 Annual Report Download - page 143

2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 141
CORPORATE GOVERNANCE
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ORGANIZATIONAL AND OPERATING PROCEDURES OFTHEBOARD OFDIRECTORS
In addition to the demands of the board of directors, training/
information sessions are organized on subjects on which the board
wishes to obtain an overview of the Group’s achievements. These
half-day sessions, the participation rate for which is very high, are
taken by the relevant members of the Executive Committee; the
Chairman and Chief Executive Offi cer does not necessarily attend.
They give directors the opportunity to meet not only members of
the Executive Committee in charge of the subjects presented, but
also the members of their teams. In 2015, three of these sessions
were organized. They covered Schneider Electric’s policies relating
to Human Resources, CSR and IT/cyber-security.
Insider ethics code
Schneider Electric has adopted an ethics code for members of
the board of directors and Group employees designed to prevent
insider trading. Under these provisions, both directors and relevant
employees are barred from trading in the Company shares and
shares in companies for which they have information that has not
yet been made public. In addition, they may not trade in Schneider
ElectricSE shares during the 31 days preceding the day following
publication of the annual and interim fi nancial statements, nor
during the 16 days preceding the day following publication of a
quarterly update, nor may they engage in any type of speculative
trading involving Schneider Electric SE shares (including margin
trading, purchasing and selling shares in a period of less than
four months, etc.). In addition, in accordance with the AFEP/
MEDEF guidelines, corporate offi cers also undertake not to enter
into hedges of shares resulting from exercise of options and of
performance shares they are required to hold (see page284). These
restrictions supplement the prohibition against hedging unvested
stock options and performance shares during their vesting period.