The structure of the Group
General Management
Etex Group is a privately owned company. Its shareholders are represented on the Board of Directors, which has eleven members. Day-to-day management is the responsibility of the managing director and the five other members of the Executive Committee which is composed of the managing director (CEO), the directors of the three divisions and the CFO.
The Group's Corporate Governance
Etex Group has various bodies operating within it that have to achieve optimum decision-making results on the basis of mutual consultation and reporting. In accordance with the principles of corporate governance, the Board of Directors has set up three working committees with a view to optimizing the efficiency of the company's management bodies.
- a Strategy Committee,
- a Financial Audit Committee and
- a Selection & Remuneration Committee.
These three committees will analyse more thoroughly specific issues and advise the Board of Directors accordingly.
A decentralised Group structure
Historically, the Group has a very decentralised structure. The Group's activities are organized in three divisions:
- European Building Materials Division
- International Building Materials Division
- Fire Protection and Insulation Division
Three divisions within the Group supervise the different activities.
This decentralized structure is in line with the Group's philosophy and partly also as a result of its growth over the years. This is expressed for instance in the fact that certain divisions are described geographically and others by product.
As a consequence the local affiliates are responsible for their market. Thanks to their familiarity with the local market, the subsidiaries are able to conduct surveys on changing demands, which allows them to implement an optimum policy taking account of the social customs of their market. The Group's extensive product range enables it to respond appropriately to these demands.
