SPIE’s corporate governance is based on the systematic implementation of the principles of transparency, risk prevention and management and the definition of its responsibilities and values.
Clayax Acquisition, the Group’s holding company, has a number of committees:
The Audit Committee
This committee monitors the Group's internal procedures on financial commitments, gives an opinion on the draft company and consolidated financial statements and the Group’s accounting policies and methods and selects prospective statutory auditors.
The Compensation Committee
This committee advises the Board of Directors on all issues relating to Group policy on human resources and labour law (compensation, amendments to collective agreements and any other policy changes concerning human resources and labour law). The committee submits proposals and recommendations to the Board of Directors on the Group’s executive compensation policy and any significant changes to collective agreements or its labour policy.
The Strategy and Acquisitions Committee
This committee establishes the Group’s policy on acquisitions and financing. For this reason, all Group companies are required to consult the committee on any major transfer, acquisition, disposal, contribution, merger or spin-off proposal when the transaction reaches a pre-determined threshold.
The Group also contains two specialised committees:
The General Management Committee
This committee establishes and enacts SPIE’s operational strategy, while ensuring the company complies through its actions. This committee meets once a month and brings together the general managers of the Group’s subsidiaries, the SPIE Chairman & CEO, the Chief Financial Officer, the Human Resources Director and the Strategy and Development Director.
The committee includes 15 members that reflect the Group’s European governance.
The Risk Assessment Committee
This committee makes recommendations relating to the advisability of projects that represent a certain level of risk for the Group.