Gaztransport & Technigaz (GTT), a French engineering group, set fixed annual pay of €350,000 for Catherine Ronge as she prepares to take over its board chairmanship.
At its Oct. 23 meeting, the board approved the amount after a recommendation from its Nominations and Compensation Committee. GTT said directors considered Ronge’s experience and skills, the policy then in force for outgoing chair Philippe Berterottière and the peer groups the company usually reviews.
The €350,000 covers the chair position and excludes compensation for board service. GTT did not say whether Ronge would receive a separate director fee. Her fixed pay will be prorated from Nov. 16 through the end of 2026, but the company did not disclose the amount for that period.
GTT said the package has no annual or multiyear variable compensation, termination indemnity or payment tied to a noncompete commitment. Ronge may receive company health insurance and, if applicable, provident insurance benefits; the announcement did not state their value or terms.
GTT announced Ronge’s appointment Oct. 23. She has been an independent director since 2021 and has chaired the Nominations and Compensation Committee since 2023. Berterottière is due to leave both the chair and board positions when her appointment takes effect.
Shareholders approved the board-chair remuneration policy June 16, with 62.5% of votes in favor. GTT’s annual meeting report said the policy included 5,507 performance shares for Berterottière. The report said the grant was intended to compensate for performance shares that lapsed after GTT separated the chair and CEO roles in June 2024. It separately noted that Berterottière returned to operational leadership from Feb. 9, 2025, through Jan. 5, 2026. GTT said the share-pay element was not intended to recur in future remuneration policies.
Ronge is due to assume the chair Nov. 16, when Berterottière is scheduled to leave the chair and board.
