Corporate governance

Corporate governance is about the structures and processes we have in place to manage our company. But it’s also about much more than that.

It’s about balancing the many different interests that we, as a global company, try to serve simultaneously. We have a broad base of stakeholders – our shareholders, customers, suppliers, employees and the communities in which we operate, for example.

So we need a system of governance which is effective, efficient, flexible and responsive to the dynamics in the marketplace and the world at large.

Our performance – including how well we adhere to our core principles of Safety, Integrity and Sustainability – is underpinned by sound corporate governance. On a formal level, we operate as a public limited liability company under Dutch law. This provides for what is known as a two-tier system, with day-to-day operational responsibility vested in a Board of Management and an Executive Committee , with a separate and independent Supervisory Board.

On a more practical level, we aspire to be a good corporate citizen, emphasizing transparency in accordance with applicable laws, regulations and codes, embracing the highest standards of corporate governance, and seeking to continually improve our corporate governance performance.