EXMAR operates globally and as such is governed by many diverse and complex regulatory systems. To conform with the Corporate Governance Code established by the Belgian authorities in 2009 for listed multinational corporations, EXMAR has adopted its own Corporate Governance Charter which was approved by the Board of Directors on 31 March 2010 and updated by the Board of Directors on 2 September 2016. More information can be found in the INVESTORS area of our website.
Compliance is now very much part of the overall business strategy and operations of the whole organisation. Ultimately, taking this integrated approach will lead to better overall performance.
To ensure even better compliance with rules and laws, and to reduce the risks of infringements and the adverse consequences for EXMAR and all the stakeholders, the Board of Directors decided to implement a compliance program for EXMAR.
This program was developed in cooperation with the management and external advisers and is based on the international standard COSO Framework (COSO stands for 'Committee of Sponsoring Organizations'). It aims for a permanent state of compliance by means of procedures and structures that are intended to provide continuous improvement.
The compliance program is included in the Compliance Model which describes the structures and procedures that are usedto assess and detect risks, to report and curb violations, and finally to make our employees aware and provide them with additional training.