Corporate governance

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.

“Cohesion in the family is essential for the successful future of a family-owned enterprise. We must understand that safeguarding the family’s unity is just as important as the company’s value-oriented management.”

Franz M. Haniel, Chairman of the Haniel Supervisory Board since 2003

Well organised

The more than 680 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. The chairmanship of the Supervisory Board has always been held by a family member. 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.