Established in around forty or so countries on every continent, Mersen has sought to tighten up its internal control by electing to adopt on May 19, 2009 a governance structure comprising a Management Board and a Supervisory Board backed up by three specialized committees.
The Group abides by the AFEP-MEDEF’s code of corporate governance for listed companies. More generally, the Group strives to define and apply rigorously the most exacting rules in terms of transparency, quality of information and checks and balances on powers. This policy gained the Group the best governance award at the Trophées Midcaps ceremony organized by Euronext Paris, Ernst & Young and Oddo in 2007 and 2008.
The executive and management powers exercised by the Management Board are kept clearly separate from the permanent control powers exercised by the Supervisory Board (Internal rules of the Supervisory Board).
The Management Board of Mersen designs and supervises internal control policy and arrangements. Each business unit manager is then responsible for implementing them. A handbook listing all the minimum internal control procedures has also been drawn up and circulated to the entire Group.
To control three specific areas of governance that are strategically important for the Group, the Supervisory Board has set up three committees comprising independent directors, namely the Audit and Accounts Committee, the Appointments and Remuneration Committee and the Strategy Committee.