Corporate Governance
The Sioen family has been supported by external, independent directors since 1986. Their expertise and experience contribute to the proper and effective management of the company. On 22 March 2005 the Board of Directors adopted a Corporate Governance Charter, in accordance with the Belgian Corporate Governance Code. The Corporate Governance Charter has been in
force since the 2005 General Meeting, and can be consulted on the Sioen Industries website (www.sioen.com). Since the Corporate Governance Charter came into effect, a number of minor amendments have been made to it, reflecting changes to the environment, such as the dematerialization of shares, or a small change in the shareholder structure.
The board of directors Composition (situation as at 31 March 2010) The directors’ mandates expire at the 2011 general meeting. CHAIRMAN
Mr J.J. Sioen until 20 November 2009
LMCL Comm. VA., represented by Mr L. Vansteenkiste (3), as of 24 March 2010
MANAGING DIRECTOR
M.J.S. Consulting b.v.b.a., represented by Mrs M. Sioen (1) director in various other companies
DIRECTORS
Mrs J.N. Sioen-Zoete (1), director in various other companies
D-Lance b.v.b.a., represented by Mrs D. Parein-Sioen (2) director in various other companies
P. Company b.v.b.a., represented by Mrs P. Sioen (1) director in various other companies
Pol Bamelis n.v., represented by Mr P. Bamelis (3) director in various other companies
Revam b.v.b.a., represented by Mr W. Vandepoel (3) managing director Lessius Corporate Finance n.v., director in various other companies
Louis Verbeke e.b.v.b.a., represented by Mr L.-H. Verbeke (3) chairman of Mitiska n.v., director in various other companies
Mr L. Vandewalle (3), chairman of ING Belgium, director in various other companies
LMCL Comm. VA., represented by Mr L. Vansteenkiste (3) managing director of Recticel n.v., director in various other companies, until 23 March 2010
SECRETARY
Mr G. Asselman CFO Sioen Industries Group
STATUTORY AUDITOR (4)
Deloitte Bedrijfsrevisoren c.v.b.a. Represented by Mr D. Van Vlaenderen and Mr K. Dehoorne
(1) Executive director (2) Non-executive director (3) Independent director. In defining which directors are independent, the Board of Directors has opted to make use of the transition period that the law of 17 December 2008 provides and that is applicable until 1 July 2011. This is to ensure the continuity of the Company and its management. (4) The Statutory Auditor’s mandate expires at the general meeting of 2011.
14 # SIOEN annual report 2009