Board of Directors

The Sioen Industries Group has the following working committees:

The Board of Directors is the highest management body of the company vested with all powers that are not reserved, by law or by the by-laws, to the shareholders meeting. The Board has delegated certain powers to an Executive Committee ( a management committee as defined by Belgian law)

The Board has exclusive responsibility for:

  1. Preparation and approval of the consolidated periodic financial statements
  2. Adoption of accounting standards
  3. Convening Shareholders’ meetings and drawing up the agenda and proposals of resolutions to be submitted to them.
  4. Setting the general strategy of the group
  5. Adopting the budget, long term plan and investments
  6. Appointing the Chairman and the members of the Executive committee.
  7. Supervision of the Executive committee
  8. Major decisions concerning acquisitions and divestures.

Besides the regular items, the strategic development of the company is regularly discussed and guidance is provided to the R&D projects. The Board also deals with specific items in terms of concrete issues and current events such as the new “Market abuse regime”.

Audit committee

The Audit Committee assists the Board in discharging its responsibilities for monitoring control in the broadest sense.

This includes the following tasks:

  • Analysis of the consolidated financial statements of the company, both for annual and half-yearly and quarterly consolidated results,
  • Analysis of possible impairments,
  • Evaluation of systems of internal control,
  • Review of the content of the annual financial report as far as following matters are concerned:
    • financial information
    • comments on internal control and risk management,
    • Supervision and monitoring of the auditor’s independence.
    • Renewal process of the mandate of the statutory auditor
Remuneration & Nomination Committee

The Remuneration and Nomination Committee advises the Board on the following items:

  • the remuneration policy in general and on the remuneration of the members of the Board of Directors and the Executive Committee in particular
  • stock option plans. There is a stock option plan for shares of Sioen Industries.
  • appointment or dismissal of Directors

The Board of Directors presents the above mentioned items, enclosed in the remuneration report, to the General Meeting.

The Committee discussed, amongst others, the functioning of the members of the Management Committee, the principles and parameters of the variable part of the remuneration, performed benchmarks as to the remunerations of the members of the Management Committee and Board of Directors and formulates proposals to the Board of Directors.

Management committee

The members of the Management Committee (per 31 December 2018):

  • M.J.S. Consulting BVBA, represented by Mrs. Michèle Sioen
  • P. Company BVBA, represented by Mrs. Pascale Sioen
  • Asceca Consulting BVBA, represented by Mr. Geert Asselman
  • Devos Trading Company BVBA, represented by Mr. Michel Devos
  • Flexcor NV, represented by Mr. Frank Veranneman
  • Almelior BVBA, represented by Mr. Bart Vervaecke
  • GPW Lobbestael BVBA, represented by Mr. Grisja Lobbestael
  • O.V.S. Consulting BVBA, represented by Mr. Orwig Speltdoorn
  • Mr. Uwe Stein
  • W.P.J. Verbeke Consulting Comm. V., represented by Mr. Wout Verbeke

Secretary: Mr. Robrecht Maesen

Board committees

C: Chairman
M: Member
S: Secretary
SA: Statutory auditor

Board of Directors Audit Committee Remuneration & Nomination Committee
Mr. M. Delbaere C C
Mrs. M. Sioen (permanent representative of M.J.S. Consulting BVBA) M
Mrs. J.N. Sioen-Zoete M
Mrs. D. Sioen (permanent representative of D-Lance BVBA) M
Mrs. P. Sioen (permanent representative of P. Company BVBA) M
Mr. L. Vandewalle M C
Mr. J. Noten (permanent representative of Lemon Comm. V.) M M M
Mr. P. Macharis M
Mr. D. Meeus (permanent representative of Dirk Meeus BVBA) M M M
Mr. G. Asselman (permanent representative of Asceca Consulting BVBA) S
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