Unprecedented governance
A Co-operative governance
For almost 70 years, Limagrain has drawn strength from its cooperative roots, combining proximity, open-mindedness and lasting commitment. The Cooperative has the responsibility to provide an efficient and sustainable extension of the members' farms, to participate in the success of its clients and to contribute to the future of agriculture and its agri-food chains.
Farmers' stock ownership
Anchored in Auvergne, in the heart of France, and open to the whole world through its international activities, Limagrain has always cultivated a different approach in its development model. The Group has unprecedented governance among leading seed companies. Limagrain has based its performance on the right balance between the anchorage of its farmer shareholders in Auvergne and the international dimension of the Group. It is through this shareholding, with its stability and solidarity, bearing a long-term vision, that Limagrain is assured of long-lasting successful economic performances. The history and values of the Group are those of the agricultural world: solidarity, loyalty, trust in progress and responsibility. This vision is shared by Limagrain's co-op members and employees who fully identify with these commitments in the defense of a sustainable agricultural development model.
Open to the outside world
The Board of Coopérative Limagrain, Groupe Limagrain's parent company, is composed of members of the Co-operative. It is in the plains and mountains of the county of Puy-de-Dôme that the farmer members bring out the best from the earth.
Limagrain opens up the Boards of its holding companies to figures from the sectors of industry, agri-food and finance.
Groupe Limagrain Holding's Board has two external directors on the Board, following the entry of the Strategic Investment Fund (SIF) in its capital.
The first, Maïlys Ferrere, is Director of Investment at the SIF, after a career in the baking sector. The SIF is held 51% by the Caisse des Dépôts et Consignations and 49% by the French state, and invests in equity by purchasing minority stakes in French companies that bear industrial projects creating value and competitiveness for the economy.
The second, Michel Léonard, who was appointed jointly with Limagrain, was, from 2003 to 2009, chairman of the board of Lactalis, a family dairy group based in Laval (France). He is also on the board of several other industrial groups.
Vilmorin & Cie's Board, has Didier Miraton joint manager of Michelin from 2007 until 2011, as one of its directors. Michelin is one of the world leaders for tires. Didier Miraton is also Chairman of Vilmorin & Cie's Audit and Risk Management Committee, set up in 2010.
Governance organized around three bodies
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Board of Directors
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Steering Committee
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Executive Committee
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| Decides on the strategy |
Elaborates the strategy |
Proposes strategic choices and monitors their application |
Shared power
Within Limagrain, power is shared between the elected Board Members, who steer and control, and the salaried Top Executives, who propose and implement. This governance is based on the active search for consensus, with different points of view being expressed, and different options examined, so that the best way forward can be adopted. It means the essence of decision-making can be shared with the players in the field, everywhere in the world where the Group is present. It provides the means to act quickly, and to seize opportunities that are coherent with strategic choices.
A model rolled out through subsidiaries
Limagrain has chosen to run its subsidiaries, spread over 38 countries, with a good balance between autonomy and responsibility. This organization involves Boards of Directors, which Cooperative Board Members, and where necessary, external Board Members sit on, enabling each subsidiary to work really closely to its own market while following the Group's orientations. Since 1999, the Top Executives, whatever their country of origin and their status, have held shares in the Cooperative's capital stock alongside the farmer members.
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FACTS AND FIGURES Bureau
Honorary Members of the Board
Statutory Auditors
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