The Strategy & Innovation Committees bring together twice a year the Chairman and some of the Directors to discuss the future of each business sector. Each President of the sector concerned shall attend, as well as representatives designated by him/her.
These committees are informed in particular by the work of development committees and sector strategic reviews.
The Audit Committee of the John CockerillGroup ensures that the internal control and risk management systems are adequate and efficient. It also monitors the quality and integrity of the financial reports, and in particular supervises the process of preparation of the annual accounts.
The Audit Committee formulates recommendations to the Board of Directors on the appointment, remuneration and independence of external auditors.
The Audit Committee relies on the work of the Internal Audit Unit in carrying out its missions. The Risk Management Committee and Ethics Committee also report to it.
Risk Management Committee
To continuously develop its proactive approach with regard to risk management and internal control, the John Cockerill Group has established a Risk Management Committee whose mission consists of assessing the risks that face the Group and monitoring the related action plans for controlling them. This committee reports directly to the Audit Committee.
The Risk Management Committee is chaired by Yves Honhon (Chief Financial and Administrative Officer) and is composed of the Chief Executives of the Sectors and the Group Internal Auditor.
The Ethics Committee is in charge of steering ethics within the John Cockerill Group. It is chaired by Paul Thonon and composed of members chosen and recognised for their integrity and their experience within the Group: a director of the John Cockerill Group, a representative of the Corporate functions, a representative of the operational teams and the Group Professional Ethics Manager.
This committee is responsible for defining good practices with regard to professional ethics and making them available in all the entities of the Group. It organises and monitors their implementation and conducts any arbitrations. It draws up regular reports and informs the Audit Committee.
Appointment and Remuneration Committee
The Appointment and Remuneration Committee of the John CockerillGroup assists the Board of Directors and the shareholders in the choice of directors, members of the specialised committees and Group managers to be members of the Executive Committee.
This committee also decides on the remunerations of the senior executives of the John Cockerill Group. It is assisted in this mission by experts independent of the management bodies of John Cockerill. It is chaired by Bernard Serin and is composed of Nicolas Serin, Jean-Luc Maurange and Diego Aquilina.
To develop and grow sustainably, an engineering Group relies on its capacity to renew its portfolio of technologies, products, services, and even business models.
The Development Committee defines the policy of the John CockerillGroup with regard to development and innovation. It sets the priorities for the coming financial years, ensures proper allocation of resources and follows the progress of projects undertaken by means of periodic reviews.
This Development Committee is led by the Development Officer and chaired by Bernard Serin. It meets at least four times a year, a frequency that can increase depending on the level of the development portfolio.