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Corporate Governance

The Board of Directors and the Management of Indaver attach great importance to the principles of corporate governance and want to make their corporate governance system transparent and accessible to the company’s shareholders and other stakeholders.

 

As a company that is not listed on the stock exchange, Indaver has no formal obligation to comply with any corporate governance code. However, Indaver supports the principles set forth in the Belgian Corporate Governance Code for companies listed on the stock exchange and utilizes them as a framework for the further development of the phases and structure of its own governance model. The company continuously strives to expand and improve its corporate governance system, so as to allow it to meet the expectations of its shareholders and other stakeholders and keep pace with developments in Belgium and abroad.

 

Indaver will update the content of its corporate governance system in response to its new shareholder structure.

 

Indaver uses its website, AGMs and Annual Report, among other things, to keep both shareholders and stakeholders up-to-date on its corporate governance system.

Corporate Governance Charter

The Corporate Governance Charter describes the composition and sphere of action of the board of directors. The charter also contains information on:

  • Indaver shares,
  • way(s) of transferring shares,
  • the possibility of purchasing own shares,
  • the dividend policy 

Expert Committees

The board of directors set up three expert committees to assist it with its tasks and to facilitate compliance with the corporate governance system:

  • the Audit Committee
  • the Human Resources Committee
  • the Strategy Committee

The role, composition and procedures of each committee have been defined in Committee Charters that were approved by the board of directors. The board always takes the final decision.

Management

The board of directors appoints Indaver’s Management . The board of directors determines the responsibilities, areas of competence and obligations of the management. A simplified proxy system, with a restriction on the number of proxy holders and the possibilities of further delegation, has been published in the Belgian Official Gazette.