Business groups in France have opted for a tougher governance code for private companies and entrepreneurs after public criticism for big payouts to executives.
French entrepreneur associations Medef and Afep have introduced an updated corporate governance code for their members that is tougher than originally envisaged, after public criticism of sizeable golden parachutes received by outgoing executives.
Medef and Afep (Association française des entreprises privées) brought forward the plan earlier this week, noting that they were “anxious to participate in a constructive manner in the debate on the missions of companies and the public interest”.
“This step is part of a process of constant evolution of the norms of corporate governance which are revised every two years, allowing the Fr
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