Corporate Rules and Working Habits in France
9:30 a.m., Thursday, Oct. 5, 2006
Cornell Auditorium in Plaster Hall
Admission: free

Do the French really work? What are the operating rules? Philippe Rochefort, a Frenchman who recently retired after a long career as an executive in large French companies and an international bank, discussed the major differences between France and the U.S. and tried to explain the “French paradox”: a strong economy, with highly productive technologically advanced companies, coupled with a very different set of social values and a worldwide reputation for its “Art de Vivre.” Mr. Rochefort pointed out and discussed the major differences identified by business experts (Baudry, Hoffstede, Hall) to show how distinct the two peoples are. He gave a concrete overview of the French “social model” through an anatomy of a French paycheck, commenting on the various social benefits that are legally paid by employers to finance social transfers and services.

Philippe Rochefort’s last position (1991-2005) was executive vice-president of Dexia Credit Local, a Franco-Belgian bank with a branch in the U.S. as well as a large insurance subsidiary. Dexia is No. 1 in the world for financing local authorities and is among the 20 largest European banks. Prior to joining Dexia, Mr. Rochefort held various positions within the French state-owned CDC Group, including chief financial officer of SCET, the holding company of several hundred French local subsidiaries (public transport, urban development companies, etc.). A graduate of the French “grandes écoles,” Mr. Rochefort has degrees both in engineering and economy and has taught economics for many years in several French universities, including the prestigious Institut d’Etudes Politiques de Paris. After retiring last year, Mr. Rochefort returned to school, earning a “licence” magna cum laude in history from the Sorbonne. He will begin work on his master’s degree this fall.