The Executive Committee implements the strategy and policies deﬁned by the Board of Directors. Its members have each been delegated broad powers and are critical to the effectiveness of the internal control system. The Chief Executive Ofﬁcer is invested with the fullest powers to act on behalf of the company in all circumstances and represents the company in its dealings with third parties. He is fully responsible for all operational and executive matters and, together with the other members of the Executive Committee, for worldwide sales and service operations, of which the regional managers and subsidiaries form part. The heads of the Lectra Group’s various corporate divisions also report directly to the Chief Executive Ofﬁcer or to another member of the Executive Committee, their organization and missions being adapted to the changing external and internal context of the company, i.e.: – the Finance division (treasury, accounting and consolidation, management control and audit, sales administration, and legal affairs); – the Manufacturing division (purchasing, manufacturing, logistics, quality control); – the Human Resources and Information Systems division; – the Sales division; – the Marketing and Communication divisions; – the Customer Support Services division; – the Professional Services division (training, consulting); – the Software and Hardware Research and Development divisions. All important decisions (sales strategy, organization, investments and recruitment) relating to the operations of a region or Group subsidiary are made by a speciﬁc committee responsible for the region or subsidiary concerned. These committees, chaired by the Chief Executive Ofﬁcer or by one of the Executive Committee members, meet regularly (usually quarterly for the regions and/or main countries), with the regional managers and heads of the subsidiaries concerned as well as their management teams attending. The latter submit to the committees their detailed action plans drawn up on the basis of Group strategic and budget directives, and they report on the implementation of decisions as well as on their operations and performance.