Governance/Management
The management bodies
“Siclaé’s management team, which has increased its level of professionalism, is based on three bodies with clearly defined roles. This system guarantees the 2500 shareholders (founding cooperatives and individuals) quality and transparency in how their investment is managed.”
The General Partner, Sicom, guarantees the stability of the statutes and control over the cooperatives in the industrial processing group.
WWith a simple majority, it approves the strategic options, the budgets and the financial resources. It names and dismisses the directors. It authorises share movements, acquisitions, or sales of a certain size, for example when they are over 5 % of the voting rights of the targeted company, or when they would cause a threshold to be exceeded. It can request the amendment of Siclaé’s statutes with a majority of fourfifths. And finally, it votes on resolutions submitted for Annual General Meetings.
The Management Committee is made up of three directors, who are responsible for coordinating Siclaé’s strategy on behalf of the General Partner.
It is responsible for the executive management of Siclaé, the coordination of its subsidiaries and the consolidation of strategic options. It takes the necessary decisions, recommends a strategy to Sicom, the General Partner, and is responsible for implementing it.
The Supervisory Board performs an information, consultation, authorisation and decision-making role on behalf of the shareholders.
It has the same information powers as an auditor, and also has the role of an audit committee.
It gives its opinion on the nomination of directors and on budgets. It must authorise any diversification and any significant investment, for example the acquisition of a subsidiary with over 50% voting rights, and financial investments of over three times the gross self-financing margin or the net profit.
And finally, it has decision-making power, particularly concerning the dismissal of one or more directors, the allocation of profits, the share valuation method, and the amount of dividends paid to shareholders.
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