Registration Document 2016
3.3 Compensation and benefits
Compensation, Appointments and Governance Committee member
Experience and expertise
A certified accountant, statutory auditor, legal expert to the Court of Appeal of Paris, certified by the French Supreme Court, William
Nahum has led a parallel professional and institutional career during which he has held almost all the elective offices in his profession.
After an internship in an international audit firm and then several years with French and American companies, he established a law
office more than thirty years ago, building up a team of partners, along with selected collaborators.
For twelve years, he was President of the Order of Certified Accountants of Paris (“Ordre des experts-comptables de Paris”) and of the
Company of Statutory Auditors of Paris (“Compagnie des commissaires aux comptes de Paris”). He was also President of the National
Order of Certified Accountants (“Président national de l’Ordre des experts-comptables”).
He served for nine years on the Board of IFAC, where he acquired expertise in auditing and governance standards particularly relevant
to litigation or professional liability cases. He has created and chaired two international institutions for the accountancy profession:
CILEA for South America and Latin Europe, and FCM, covering 16 countries located around the Mediterranean.
He has also held positions as a volunteer with the Accounting Standards Authority (“Autorité des normes comptables”), the Public
Accounts Standards Committee (“Comité des normes de la comptabilité publique”) and as a legal expert with the Government
Shareholding Agency (“Agence des participations de l’État”) and the Ministry of Defense.
In 2004, William Nahum founded the Academy of Accounting and Financial Sciences and Techniques, an organization chaired by him
with more than 60,000 members in over 20 countries.
In 2013, William Nahum was elected National President of CIP (Information Center on the Prevention of Company Difficulties).
A government order of December 24, 2013 made him a member of the Accounting Standards Authority (“Autorité des normes
Compensation and benefits
Compensation of directors and executive officers
The purpose of the Company’s policy on the compensation of
directors and executive officers and the management teams
more broadly-speaking is to:
attract, retain, and motivate the best talent;
encourage commitment to deliver high performance;
align compensation levels with the Company’s results.
It is guided by three principles:
competitiveness of compensation in respect of market
practices (compensation policies of comparable listed
companies, especially technology companies in France,
Europe, and the United States);
intermal and external fairness of compensation
alignment of compensation with the achievement of the
Group’s short-, medium- and long-term financial and strategic
Compensation, stock options
and performance shares granted by
the Company to the sole executive director
Policy for compensating the Chairman
and Chief Executive Officer
In recent years, the Board of Directors has decided to change the
compensation of the Chief Executive Officer, for two reasons: to
align it with market levels, and to reflect the transformation
of the Group’s profile since 2010 (both in size and scope of
business) while adhering to best market practices, in line with
the spirit of the AFEP-MEDEF Code. Since 2010, the Group’s
revenues have more than doubled, its profit for the period has
increased more than six-fold and its market capitalization has
more than tripled as of the end of December 2016.
In addition to compensating operational and financial
performance, the Board of Directors also uses the compensation
of its Chairman and Chief Executive Officer as a talent retention
tool. This is necessary because the Group operates in the
payment ecosystem – a global market that is changing very
rapidly and has a narrow talent pool.