SHV has established a long track record of reliable performance, which in turn lays the foundations of growth for generations to come. This has been built on a strong, transparent organisational structure that supports swift, entrepreneurial decision making. At the same time, it ensures that appropriate checks and balances remain in place. 

The Supervisory Board (SBD) is responsible for supervising management performance and advising the Executive Board of Directors (EBD). It frequently meets with the EBD to discuss strategy, results and people appointments at higher management level. Regular site visits also keep the SBD up to date with the Groups and their various businesses.   

The EBD plays a pivotal role by defining strategy, capital allocation, people appointments at higher management level and safeguarding the SHV culture while Group management teams manage the individual businesses. The EBD and Group management teams are both responsible for measuring and monitoring strategic pillars using the Delivery & Development Agenda, which classifies key strategic aims into concrete topics and KPIs.   

A strategy deep-dive is also performed every three to six years, a full strategic analysis assessing the five-year strategy of each Group. The strategy of the Groups is updated on an annual basis to reflect current market conditions, macro trends and forecasts, the competitive landscape, and customer preferences, all of which feed into two strategic agendas: the Delivery agenda focuses on plans ready to execute, while the Development agenda looks at issues that need to be addressed and strategic choices to be made. Financial progress is measured against the 15-month rolling forecast and quarterly performance reviews before being discussed at Parent-Group meetings (PGM) between the EBD and Group Management.

The independent Internal Audit function supports stakeholders at both SHV and Group level to provide insights whether the activities are conducted in line with the SHV business principles. In addition to regular business processes, audits may also encompass large ad-hoc projects, fraud investigations and specific topics such as remuneration reviews and safety audits.   

All Groups have an Internal Audit Committee, which consists of at least the CEO, CFO, SHV Internal Auditor and the Group Internal Auditor. These Committees meet four times per year, with their purpose and responsibilities defined in the Internal Audit Committee Charter.  

Annual financial statements are examined by an external certified public auditor, with KPMG having fulfilled the role since 2015. The external auditor attends all internal Group Audit Committee meetings, and any EBD meetings at which the annual financial statements, audit plan, Early Warning and Management Letter are to be approved or the year-end external audit report discussed.   

Everyone at SHV shares a common responsibility to act with integrity in line with both the law, our policies, and our Purpose.  As part of a culture that never has—and never will—tolerate unethical or unlawful behaviour, we are duty-bound to conduct business in an ethical and compliant manner.

A robust Ethics & Compliance framework incorporates a set of policies related to our main sources of risk: Third Party Due Diligence, Anti-Bribery and Corruption, Trade Sanctions and Export Controls, Competition Law, Privacy, and Whistle Blowing. The Ethics & Compliance department works closely with several functions across the business including management, HR, Legal, and Internal Audit. 

The Groups are each responsible for implementing the policies within their own organisations, adapting them to their specific needs and continuously ensuring they remain up to date. Where relevant, they may also incorporate additional policies such as Anti-Money Laundering and Workplace Conduct.  

Dedicated Ethics & Compliance departments within each Group provide insight into the expected levels of behaviour and support management in adequate implementation and revision of the E&C programme/policies and making sure that the relevant persons are trained accordingly.  The departments also provide colleagues worldwide with all the right tools to deal with challenging circumstances and difficult dilemmas. 

Speak Up, meanwhile, is a confidential, company-wide phone line and webservice that allows all employees and stakeholders to safely voice any concerns they may have about workplace practices.  

Speak Up

This comprehensive set of measures helps to ensure that SHV continues to meet its strong commitment to a company-wide culture of integrity and trust. 

The E&C Committee, operating both at SHV and Group level, assists and advises the SHV EBD and management of the Groups respectively in overseeing the effective design, implementation, and operation of the E&C compliance programme. The Committee meets on a quarterly basis at SHV level, and consists of the entire EBD, as well as the Director E&C/General Counsel, Human Resources, and Internal Audit.  

Effective interaction between decision makers

Internal Audit  

Internal Group Audit Committee  

External Audit  

Ethics & Compliance  

Ethics & Compliance (E&C) Committee