Phitrust Partenaires
INVESTMENT COMMITTEE
■ Guy Portmann
Investment Committee Chairman
■ Hervé Baulme
Founder of Summit Systems USA
■ Adrien de Crombrugghe
Representative of Caisse des Dépôts et Consignations
■ Xavier Daudin
Finance Director
■ Pierre Darrot
Board member of several companies
■ Philippe Debry
Lawyer, Partner at Fidal Paris
■ Gilbert Delagrange
Retired Doctor
■ Louis Desanges
Former partner at La Financière de Courcelles
■ Alain Goyé
Board member of several social companies
■ Olivier Hériard-Dubreuil
Chairman of HDO Conseil
■ Martine Roussel-Adam
Founder and former CEO of Synerfil Businessfil
■ France de Sadeleer
Board member of several companies
■ Emmanuel Schom
Financial manager
■ Xavier Van Poucke
Former trader, agricultural entrepreneur
Phitrust Partenaires
SUPERVISORY BOARD
■ Olivier de Guerre
Chairman of the Supervisory Board
■ Xavier de Bayser
Former head of Ideam Amundi
■ Michel Bon
Board member of several companies, non-profits and foundations
■ Olivier Kayser
Founder and Managing Director of Hystra
■ Bruno Keller
Former CEO of Eurazeo
■ Raphaële Leroy
Representative of BNP Paribas SA
■ Cyrille Marcilhacy
Representative of Natixis Private Equity
■ François d’Ormesson
Board member of Phitrust
News
Alstom acquired by Siemens: but what do the shareholders do?
At a General Meeting held on 17 July 2018, the shareholders voted in favour of the acquisition of Alstom by Siemens. What a pathetic decision, when at the announcement of the discussions with Siemens the executives and the board of directors sold the idea of a “merger between equals”!
The takeover of Alstom by Siemens presented as a merger “between equals“
Without contesting the strategic interest of the merger between these firms, this operation being presented as a merger “between equals” which is – if it is approved in these conditions – a takeover of Alstom by Siemens, and harms the minority shareholders with an insufficient control premium and is unsatisfactory in terms of governance.
Executive compensation: what do shareholders do?
Once again this year, executive compensation has created a media buzz about some emblematic cases, because they are too decorrelated from the economic and social reality of the company.