Title Corporate

The Board of Directors has 17 members, apart from the Chairman:

• seven representatives of the French government:

- two representatives of the Minister for Economy and Finance
- two representatives of the Minister for Regional Development
- one representative of the Minister for Foreign Affairs
- one representative of the Minister for Employment
- one representative of the Minister for Technology

• four representatives from local authorities

• four personalities chosen for their expertise in the field, particularly their knowledge of businesses

• two representatives elected from agency personnel.

Members of the Board of Directors, apart from the Chairman and the representatives elected from agency personnel, are appointed by decree.

Members of the Board are appointed for a period of three years which is renewable.

17 members of the IFA Board of Directors, appointed by decree for a period of 3 years

However, this period is only renewable once for members chosen for their expertise. In the event that a position on the Board of directors should become vacant for whatever reason before the expiry of the mandate, this position shall be filled for the remaining period. The members of the Board of Directors do not receive financial remuneration. They are entitled to reimbursement of their expenses in accordance with regulations governing French civil servants.

The Board of Directors is convened at least twice a year by the Chairman who determines the Agenda.

A Vice Chairman is elected for a three year period to officiate in the absence of the Chairman.

The Board of Directors decides agency matters. Its decisions include in particular agency strategies, organization and services, annual income and expenditure and any possible changes thereto, the accounts and annual report.