Stable community of values
One feature distinguishes Haniel from other family-owned companies: since the beginning of the 20th century, corporate management has been entrusted to external managers. No family member works in the Group. Entrepreneurial decisions can thus be taken without regard to family commitments in order to achieve optimal business results.
The family members have a long-term average of 25 per cent of their own share of the Group annual net income. And they only pass on Haniel shares to each other. This means that selling to people outside the business is not possible.
The more than 720 shareholders are organised in the Shareholders’ Meeting. It convenes once a year and elects the Family Advisory Board - the link between the family and the company - from its members for periods of five years. The Advisory Board comprises up to 30 family members, from which four family members are elected to the Supervisory Board by the Annual Shareholders’ Meeting. In addition, the Annual Shareholders’ Meeting elects 2 non-family members to the Supervisory Board, who form the group of shareholder representatives in the Supervisory Board along with the family members. Here, they co-determine the principles of the business policy and influence the corporate strategy. The chairmanship of the Supervisory Board, who form the group of shareholder representatives in the Supervisory Board along with the family members. Here, they co-determine the principles of the business policy and influence the corporate strategy. Shareholder and employee representatives are equally represented in this co-determined monitoring body and together they appoint and dismiss members of the Management Board, monitor their work and support them in an advisory capacity. Four members of the Supervisory Board form the Audit Committee, which also features equal representation. This monitors the accounting process and the effectiveness of the internal control system, the risk management system, the internal audit function and the compliance management system. Moreover, the committee examines and confirms the impartiality of the auditors of the financial statements.
Both directly and through its business divisions, Franz Haniel & Cie. GmbH (Haniel) conducts its diverse business activities in a wide variety of economic, regulatory, cultural and social environments.
Since it was founded, Haniel's business practices have been characterised by integrity, honesty, fair business conduct and compliance with all applicable laws. Haniel stands for sustainable and socially responsible behaviour regarding the economy, the environment and social issues, and we expect the same of our business partners. Haniel employees support and live by this commitment in their day-to-day work. Our Code of conduct describes the standard by which we judge all our activities. It is the direct responsibility of every individual to "do the right thing". This responsibility cannot be delegated to others. Employees are required to seek counsel whenever they are unsure as to the correct course of action in a given situation.
All business divisions in the Haniel Group are obliged to study the content of this Code of conduct and issue appropriate regulations for their respective organisations. The Code of conduct rests on the principles of the UN Global Compact. We therefore recommend that our business divisions join the UN Global Compact.
Haniel has a fundamental value system based on openness and integrity. All Haniel's business activities are governed by basic principles: