Organisational principles
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Business Units: Business Units are the key organizational units. Umicore believes in decentralization and in entrusting a large degree of autonomy to each of its business units. The business units in turn are held accountable for their contribution to the Group?s value creation. In most cases, a number of business units are regrouped in a Business Group.
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Shared Operational Functions:In areas where economies of scale or the advantages of a centralized expertise are significant, shared operational functions are organized.
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Corporate departments:Corporate departments manage specific Group-wide tasks and common resources, set general policies and exercise a control function.
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Executive Committee:The Executive Committee approves the strategies of the business units and
monitors their implementation. It develops the overall Group strategy and submits it to the Board of Directors. It approves all major human resources and capital allocation decisions. -
Board of Directors:The Board of Directors is responsible for the overall strategy of the Group. It appoints the CEO and the members of the Executive Committee and oversees their performance. It ensures that the Group operates in accordance with principles of good corporate governance.