the Compensation Committee, is required to vote on the matter and to publish immediately on the company’s website a statement indicating how it intends to respond to the wishes of the shareholders. The shareholders were invited to vote on this question for the ﬁrst time at the Ordinary Shareholders’ Meeting on April 30, 2014, approved the resolution concerning the Chairman of the Board of Directors with a 97.4% vote, and unanimously approved the resolution concerning the Chief Executive Ofﬁcer. Policy Governing the Compensation of Executive Directors This subject is discussed in detail in the report of the Chairman on internal control procedures and risk management and on corporate governance appended to this report in chapter 3, Principles and rules adopted by the Board of Directors to determine the compensation and beneﬁts in kind granted to Executive Ofﬁcers. The sole executive directors (dirigeants mandataires sociaux) are André Harari, Chairman of the Board of Directors, and Daniel Harari, Chief Executive Ofﬁcer. They are not under any employment contract to the company and they are not the beneﬁciaries of any special arrangement or speciﬁc beneﬁts concerning deferred compensation, severance compensation, or pension liabilities committing the company to pay any form of indemnity or beneﬁt in the event of termination of their functions, or at the time of their retirement, or more generally subsequent to the termination of their functions. The compensation policy, as decided by the Board of Directors, is strictly identical for the Chairman and for the Chief Executive Ofﬁcer since the separation of their functions in 2002, as was previously the case. In particular, it takes into account the speciﬁc duties of the Chairman of the Board of Directors, who devotes the necessary time to these duties. The speciﬁc duties of the Chairman of the Board of Directors are set out in the internal rules of the Board in chapter 1.5, Chairman’s speciﬁc duties. Consistent with the prescriptions of the Internal Rules and Procedures, he holds no directorship in other companies. Acting in concert, the Chairman and the Chief Executive Ofﬁcer are jointly accountable for the outcome of the strategy pursued by the Group under their leadership.