SHV has a long-established record of reliable performance and growth, which provides a strong foundation for generations to come. It is built upon a strong, transparent organizational structure that supports rapid, entrepreneurial decision-making, while ensuring that appropriate checks and balances are in place.
The Supervisory Board of Directors (SBD) is responsible for overseeing management performance and advising the Executive Board of Directors (EBD). The SBD meets regularly with the EBD to discuss strategy, investments, results, and senior management appointments. Annual site visits also keep the SBD informed about the Groups and their various businesses.
The EBD plays a leading role by defining strategy, allocating capital, appointing leadership, and safeguarding the SHV culture. Group management teams manage the individual businesses. Both the EBD and Group management teams use the Delivery & Development Agenda to measure and monitor strategic priorities and categorizing key strategic aims into concrete topics and KPIs.
A strategy deep-dive is performed every three to six years, involving a full strategic analysis assessing each Group’s five-year strategy. The strategies are updated annually to reflect current market conditions, macro trends and forecasts, the competitive landscape, and customer preferences. This information informs two strategic agendas: the Delivery Agenda, which focuses on plans ready for implementation, and the Development Agenda, which addresses issues requiring attention and strategic choices that need to be made. Financial progress is monitored in monthly performance reviews against both the initial forecast for the year and the latest forecast update, 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 by providing insights on whether activities are conducted in accordance with SHV business principles. Internal Audit can perform audits across all business units and functional areas, based on a risk-based audit plan approved annually. In addition to regular audits, the function may conduct special reviews, investigations, and thematic assessments at the request of management or the Audit Committee of a Group.
All Groups have a Risk Control and Audit Committee, comprizing at least the Group CEO, CFO, Head of Group Internal Audit, SHV Internal Audit Corporate Director, where the Group External Auditor can be invited. These Committees meet four times per year, with their purpose and responsibilities defined in the Internal Audit Committee Charter.
Annual financial statements are audited by an external certified public auditor and KPMG has fulfilled this role since 2015. The External Auditor attends all SHV Finance Committees, SHV Group’s Risk, Control and Audit Committees, and any EBD or SBD meetings at which the Annual Report, Audit Plan, Early Warning, Management Letter, and Audit Report are discussed.
Everyone at SHV shares a responsibility to act with integrity and in accordance with applicable laws, policies, agreements, and our Purpose. As part of a culture that never has tolerated unethical or unlawful behavior, we are committed to conducting business ethically and compliantly.
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, Sanctions and Trade Controls, Competition Law, Privacy, and Whistleblowing. The Ethics & Compliance department works closely with several functions across the business, including Management, HR, Legal, and Internal Audit.
Each Group is responsible for implementing these policies within their own organizations, adapting them to their specific needs and 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 guidance on expected standards of behavior and support management in the effective implementation and revision of the E&C program/policies, ensuring that relevant personnel are appropriately trained. These departments also provide colleagues worldwide with the tools to address challenging circumstances and difficult dilemmas.
Speak Up is a confidential, organization-wide phone line and web service that allows all employees and stakeholders to safely voice any concerns they may have about ethics and compliance, including workplace practices.
This comprehensive set of measures helps ensure that SHV continues to meet its unwavering commitment to a no-compromise culture of ethical and compliant business practices.
The E&C Committee, operating at both 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 program. The Committee meets quarterly at SHV level and comprises the entire EBD, as well as the Director E&C/General Counsel, Human Resources, and Internal Audit.
Effective interaction between decision makers
Internal Audit
Risk Control and Audit Committee
External Audit
Ethics & Compliance
Ethics & Compliance ( E&C) Committee