Corporate governance

A new Belgian corporate governance code has been issued since 2009. Sioen Industries applies the Corporate Governance principles laid down in the Corporate Governance Charter. In addition, and except as explained in the Corporate Governance Charter or in the Corporate Governance Statement of the annual report, the company complies with the Corporate Governance Code.

Pursuant to new article 96 § 4 of the Companies Code, a declaration in respect of non-financial information is included in the chapter ‘Corporate governance’ of the annual report. This will facilitate the understanding of the development, the results and the position of the company as well as the effects of its activities relating to the social, employee and environmental matters, the respect of human rights and the fight against corruption and bribery. Also some information regarding the diversity policy of the company, in accordance with article 96 § 2 6° of the Companies Code, is given in the chapter ‘Corporate governance’ of the annual report.

Corporate governance charter

The Sioen family has been supported by external, independent Directors since 1986. Their expertise and experience contribute to the proper and effective management of the company. On 22 March 2005, the Board of Directors adopted a Corporate Governance Charter, in accordance with the Belgian Corporate Governance Code.

The Corporate Governance Charter has been in force since the General Shareholders’ Meeting of 2005. Since the Corporate Governance Charter came into effect, a number of minor amendments have been made to it, reflecting changes to the environment, such as the dematerialization of shares, or a small change in the shareholder structure.

Articles of association

The registered office of Sioen Industries, a public limited liability company under Belgian law, is established at Fabriekstraat 23, B-8850 Ardooie. The company is listed in the register of legal persons Gent, division Brugge, under enterprise number 0441.642.780.

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Board of directors

Sioen is committed to the highest governance principles and seeks to consistently enhance corporate governance performance, emphasizing transparency and promoting a sustainable culture of long-term value creation.

Sioen’s governance bodies are responsible for the Group’s long term approach, pursuing the vision of Sioen’s founder, and implementing the strategy. The Board of Directors is entrusted with steering the strategic development of the company while advising the Management Committee, which oversees its business operations.

Corporate Governance Statement in the annual report

Sioen Industries provides in its annual report a Corporate Governance Statement, which gives the information required by the Belgian Companies’ Code. This Statement includes additional factual information with respect to Sioen’s Corporate Governance and relevant modifications thereto, together with details on directors and remuneration.