Umicore has articulated its mission, values and basic organisational philosophy in a document called “The Umicore Way”. This document spells out how Umicore views its relationship with its customers, shareholders, employees, and society. It is attached as Appendix 1. In terms of organisational philosophy, Umicore believes in decentralisation and in entrusting a large degree of autonomy to each of its business units. The business units in turn are accountable for their contribution to the Umicore Group’s value creation and for their adherence to group strategies, policies and standards.
In this context, Umicore believes that a good corporate governance system is a necessary condition to ensure its long term success. This implies an effective decision-making process based on a clear allocation of responsibilities. It has to allow for an optimal balance between a culture of entrepreneurship at the level of its business units and highly effective steering and oversight processes. The major group responsibilities are held at the following levels:
The Shareholders’ meeting
The Supervisory Board
The Chief Executive Officer (“CEO”)
The Management Board
Each of the Members of the Management Board, responsible for the day-to-day management within their respective area of competence
The Managers of the Business Units and of the Corporate and Support Functions, reporting to a Member of the Executive Committee
The employees
This Corporate Governance Charter, based on the recommendations set out in the 2020 Belgian Code on Corporate Governance, deals in more detail with the responsibilities of the Shareholders, the Supervisory Board, the Management Board and the CEO.
Umicore uses certain monitoring and tracking technologies such as cookies. These technologies are used in order to maintain, provide and improve our services on an ongoing basis, and in order to provide our web visitors with a better experience.
By clicking on the "Accept all" button you agree to the use of these cookies while using the website. For further information regarding how we use cookies and other tracking technologies, please see section 11 of our website privacy notice.