Umicore says that it has reportedly changes its current corporate governance model, where the board delegates certain management powers to an executive committee, to a two-tier governance model consisting of a supervisory board, composed exclusively of non-executive directors and headed by a chairman, and a management Board, headed by the CEO.

‘After weighing all elements, we have decided to propose to the shareholders to move to a two-tier model,’ said Thomas Leysen, chairman of Umicore. ‘We feel that it reflects most closely the current modus operandi and that it gives great clarity to the roles of each body. We feel it will serve Umicore well as we pursue our development in the years ahead.’

This story uses material from Umicore, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.