Unibail-Rodamco Articles of Association
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DownloadGroup Corporate Governance
Unibail-Rodamco has a two-tier governance structure that is designed to ensure balanced, responsible decision-making and sustainable economic growth. There is a clear distinction between the different roles, responsibilities and related tasks assumed by the Management Board and the Supervisory Board.
The Management Board is comprised of 6 members, chaired by Mr. Guillaume Poitrinal. The Management Board's duties include developing and carrying out the Group's strategy within the approved risk profile, effectively structuring and staffing the organisation, applying consistently the principles of sustainability to operations and developments, and achieving and properly reporting on financial targets and results. The Board operates under its own Charter and is overseen by the Supervisory Board
The Supervisory Board, chaired by Mr. Rob ter Haar, exerts oversight and control over the Management Board and the general affairs of the Group. Supervisory Board members participate in regular review sessions on subjects including market and industry developments, financial and legal matters, sustainable development, risk management, and governance. The Board is assisted by two committees which focus on specific aspects of its supervisory responsibilities: the Audit Committee, and the Governance, Nomination and Remuneration Committee.
Societas Europaea
Unibail-Rodamco has adopted the status of European Company, known under its Latin name of "Societas Europaea" or SE. The Societas Europaea legal structure was created by the European Commission to allow companies which have a European presence to use the same legal structure in all EU member states. This enables them to simplify their legal obligations and assert a European identity. Unibail-Rodamco was the first company in the French CAC40 and Dutch AEX index to adopt this status.
The Code of Ethics
The fundamental principles, values and standards that govern the Group are described in the Code of Ethics. It sets out the Group's position on:
- Loyalty, integrity and conflicts of interest,
- Ethical ways of doing business,
- The treatment of confidential information,
- Respect for human dignity and for employees's work,
- Respect for law and regulation,
- Operations on the Group's securities.
In particular, it prohibits the giving and/or receiving of bribes or other facilitation payments, commits employees to obeying all applicable laws, and places clear restrictions on the giving and/or receiving of gifts. Violation of the Code may lead to disciplinary and legal action.
As a signatory of the UN Global Compact, Unibail-Rodamco has undertaken to promote the application of the fundamental values with respect to human rights, labour, the environment and corruption.
Complete information about matters relating to corporate governance is provided in the Annual Report.
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