Annual financial report 2013

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EXECUTIVE COMMITTEE
The Executive Committee, in accordance with Article 524bis of the
Company Code, is composed, apart from its Chairman Mr. Jean-Edouard
Carbonnelle (Chief Executive Officer), of three Executive Directors: Mr. Marc
Hellemans (Chief Financial Officer until 14.03.20141 ), Mr. Xavier Denis (Chief
Operational Officer), and Mrs. Françoise Roels (Secretary General & Group
Counsel). Each Committee member has a specific area of responsibility.
The Committee meets every week and is responsible for the operational
management of the company.
On 24.12.2013, after having worked for Cofinimmo for 13 years, Mr. Marc
Hellemans expressed to the Board of Directors his wish to leave the com-
pany to take up new challenges at the Artexis Group, a non-listed com-
pany active in a sector other than real estate. This resignation became
effective on 14.03.2014.
In accordance with Article 39 of the Law of 03.08.2012 concerning certain
forms of collective management of investment portfolios, the members
of the Executive Committee are effective leaders within the meaning of
this Article and are also responsible for the day-to-day management of
the company.
The Executive Committee’s operating rules are detailed in its charter,
which can be viewed on the website .
Role of the Executive Committee
Its role is to:
• propose the company strategy to the Board of Directors;
• execute the strategy withheld by the Board of Directors, including
the decisions to acquire or dispose of buildings or shares of real
estate companies;
• carry out the day-to-day management of the company and report on
these matters to the Board of Directors.
Current composition
Jean-Edouard Carbonnelle
Chief Executive Officer
Joined Cofinimmo in November 1998. Before that, he worked in the Group
Société Générale de Belgique, first in the holding company itself and sub-
sequently as Director and Chief Financial Officer of the Diamant Boart Group
(abrasive tools) andMember of the Executive Committee of Sibéka (diamonds)
and finally, briefly, as Investor Relations Manager at Union Minière (non-fer-
rous metals). He began his professional career in the department of indus-
trial and mining projects at the World Bank. He is a graduate in Commercial
Engineering (Solvay Business School - Université Libre de Bruxelles 1976) and
holds a Master of Business Administration (Wharton School - University of
Pennsylvania 1977).
Xavier Denis
Chief Operating Officer
Joined Cofinimmo in 2002 as Head of Project Development and Area
Manager. Before coming to Cofinimmo, he worked in London between 1996
and 2001 at Chapman Taylor and HOK Sport. He has 15 years of experience
in technical, financial and commercial management of property portfolios.
He is a Civil Engineer (Catholic University of Louvain 1996) and holds a
Master of Business Administration (INSEAD 2002).
Françoise Roels
Secretary General & Group Counsel
Joined Cofinimmo in August 2004. She is the Head of the Legal Department
and is in charge of the Company’s General Secretariat. She is the
Compliance Officer of Cofinimmo and is also responsible for aspects
related to the shareholders and relations with the Belgian financial super-
visory authorities. Before coming to Cofinimmo, Françoise Roels worked
for the law office Loyens, for Euroclear/JP Morgan and for the Belgacom
Group. She was responsible for tax affairs and Corporate Governance.
She is a law graduate (RUG 1984), examinee in philosophy (RUG 1984)
and holds a master’s diploma in taxation (Ecole Supérieure des Sciences
Fiscales 1986).
1 The successor of Marc Hellemans had not been designated yet at the time of writing of this Annual Financial Report.
Jean-Edouard Carbonnelle Françoise Roels
Xavier Denis
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Corporate Governance Statement \ Management Report