In 1816 when Caisse des Dépôts was founded, the rules of governance were established by law. They uphold two principles: the independence of the Supervisory Board and the autonomy of the Chief Executive Officer. These two principles ensure the stability of the Group and the continuity of its activities.

The Supervisory Board

Since the creation of Caisse des Dépôts, the role of the Supervisory Board has been to oversee the proper management of the Group and the decisions of the Chief Executive Officer.

It is chaired by a Member of Parliament who, at least once a year, reports the work carried out back to Parliament through a report about Caisse des Dépôts’ debates and opinions.

Sophie Errante
President of the Supervisory Board - Member of Parliament for Loire-Atlantique


Three founding texts

Structure of the Supervisory Board :

The Pacte Law modified the structure of the Supervisory Board, increasing its number of members from 13 to 16. The role of Members of Parliament has been maintained (three deputies and two senators), while the number of people appointed by the Parliament increased from three to five. Furthermore, two representatives from the staff of Caisse des Dépôts will now be present. Lastly, the State is now represented by the Director General of the Treasury, or her representative, and appoints three people. From now on, the rule of gender equality must be respected.

The Supervisory Board is also supported by a General Secretariat.

Since 2003, the Supervisory Board has had internal rules of procedure that set out its rights, resources and its interaction with the Chief Executive Officer. These rules also set out the role of the specialized committees set up within the Supervisory Board to strengthen its analytical and supervisory capacity:

  • The Audits and Risks Committee
  • The Savings Committee
  • The Investments Committee
  • The Appointments and Compensation Committee
  • The Strategy Committee

Understanding the organization of the Supervisory Board


    General rapporteur at the Court of Auditors, appointed by the President of the National Assembly
  • Jean-Yves Perrot
    Senior Counsellor at the Court of Auditors (appointed by the President of the National Assembly)



The Strategy Committee



Directeur général de la Caisse des Dépôts

Chief Executive Director of Caisse des Dépôts

The Chief Executive Director presides over the Executive Committee, which is the main governanc”governancegoverning body of Caisse des Dépôts. Following parliamentary approval, the President of the French Republic appoints the CEO for a period of five years.

Upon taking office, the CEO swears before the Supervisory Board to preserve the integrity of Caisse des Dépôts.

The Executive Committee, which the CEO presides over, is the main governing body of Caisse des Dépôts.

Its structure reflects the five areas that represent the core of the Group’s activities:

  • Supporting regional projects.
  • Financing companies through our joint subsidiary with the State, Bpifrance.
  • Pensions and professional training.
  • Asset management.
  • Monitoring subsidiaries and shareholdings.


In addition to these, the support departments essential for us to carry out these activities.

The CEO decides our strategy, monitors the operational performance of Caisse des Dépôts and ensures that the services offered meet client, partner and user needs.



Find out how our governing structure works

Infographie CS 3



Explore further and discover