Q-Park stands for good corporate governance with proper supervision. The duties and responsibilities of executive directors, supervisory board members and shareholders are carefully defined. The Q-Park Governance is anchored in the articles of association.
General Meeting of Shareholders (GMS)
The highest governing body within Q-Park is the GMS. The agenda for the GMS is drawn up by the executive (EB) and supervisory boards (SB). Shareholders are also entitled to place items on the agenda.
Supervisory Board (SB)
The SB consists of five to seven members. The allocation of tasks, responsibilities, authorisations and the working practices of the SB are documented in regulations which are checked externally.
Executive Board (EB)
- CEO – chief executive officer
- CFO – chief financial officer
- CTO – chief transformation officer
EB Committees are formed by at least one EB member and one or more Directors to advise on specific subjects.
The management committee supports the EB on a weekly basis with tailored advice to execute the approved strategy effectively. CEO is chair.
The investment committee coordinates the new business process, analyses investment proposals on a weekly basis and supports the EB with recommendations. CFO is chair.
The Corporate Social Responsibility committee makes proposals and recommendations regarding corporate responsibility, policy and developments, reporting and stakeholder engagement. CEO is chair.
Q-Park follows the regulations for works councils applicable in each country where Q-Park is present. If these require a works council or social delegation, Q-Park will make the appropriate provisions.
- Developing strategy
- strategy implementation
- management of the countries
- performance of activities that serve the objectives of the business plan
- employee remuneration policy in the countries
- financing, ICT systems and taxation
- Evaluating strategy performance
- Managing risk and the relationship with investors
- Monitoring house style and brand management
- Reporting for shareholders and banks
Country Management consists of a Managing Director (MD) and a Finance Director (FD) who may only take material decisions together, thus always applying the four-eyes principle.
Together with the EB, corporate management discusses the medium to long-term corporate strategies and policies. Corporate management assigns responsibilities to oversee the performance of functional areas and progress of business projects.
Provision of information
Each month country management provides the EB with up to date operational and financial information.
The shareholders are informed regularly about the state of affairs.
A temporary provision in the Management and Supervision (Public and Private Companies) Act requires that large enterprises must balance the appointment of men and women or explain why there is no equilibrium and what measures the organisation intends to take to improve the balance.
At Q-Park, the EB members are men. The appointments are therefore not evenly distributed across the genders. This unbalanced distribution is not Q-Park’s conscious choice, it is the result of appointing the most suitable person to a vacant position.