Its governance structure consists of a Board of Managing Directors formed by two executive directors and a supervisory board. Each of these boards is guided by the company’s articles of association and its own internal regulations.
The Supervisory Board, which is a non-executive body, has an audit and a remuneration committee. Since October 1, 2013, the company’s corporate management team (CMT), composed of Nidera's CEO, CFO, CCO, Chief Risk Manager, Chief Legal Officer, the Group Human Resources Coordinator and the heads of the company's largest business units, has a mandate to make decisions related to matters that have a major impact on the company’s business. In addition, an internal organizational model was developed and implemented during this reporting period for the purpose of defining clearer roles and responsibilities and strengthening internal governance and controls. As a result of the implementation of this model, our Corporate CSR team now reports directly to the company’s Chief Legal Officer rather than its CEO.