introduction_corporate_governance

Corporate Governance

Introduction

Introduction

 
 
At Viohalco, we believe that solid Corporate Governance ensures accountability, fairness and transparency in our relationship with all our stakeholders. Robust internal policies and effective monitoring systems throughout the Company help us maintain high standards of Corporate Governance in compliance with the 2009 version of the Belgian Code on Corporate Governance.
 
Viohalco’s Board of Directors is composed of twelve members, four of which are independent non-executive members.
 
The Board meets as frequently as the interests of the Company require and in any case at least five times a year. Decisions of the Board are validly adopted by a majority of five-sixths of the board members.
 
The Board has established an Audit Committee, as well as a Nomination and Remuneration Committee to deal with specific aspects of Viohalco affairs. The responsibilities of each committee are set out in the Corporate Governance Charter of Viohalco.
 
This section of the website summarises Viohalco’s key Corporate Governance principles, which are contained in Belgian law, the Belgian Code on Corporate Governance, the Articles of Association of the Company and its Corporate Governance Charter.  Given the secondary listing of Viohalco’s shares on the Athens Exchange (Athex), the Greek Law 3340/2005, transposing into Greek legislation Directive 2003/6/EC on insider dealing and market manipulation (market abuse), as currently applicable, and the Athex Rulebook also apply to the Company, in addition to Belgian laws and regulations.
 
Further information on this topic can also be found in our latest Annual Report.
 
Viohalco’s Board of Directors updated the Charter on 30 March 2015. It will review Corporate Governance at regular intervals and adopt any amendments deemed necessary and appropriate.  The Charter includes the rules and policies of Viohalco and must be read in combination with the Company’s Articles of Association, the Corporate Governance Statement in the annual report and the Corporate Governance provisions set forth in the Belgian Companies Code (BCC).
 
The Board of Directors reviews the Company’s Corporate Governance procedures at regular intervals and adopts any changes deemed necessary and appropriate.