Trafigura Beheer B.V. (Trafigura), the parent company of the Trafigura Group, is incorporated in the Netherlands and is therefore subject to the Dutch legal framework. Trafigura is also managed and controlled from Amsterdam.
Trafigura seeks to voluntarily comply with various provisions of the Dutch Corporate Governance Code which applies to all Dutch companies with a stock exchange listing. The Code is not part of Dutch law although it has been embedded in the Dutch Civil Code. Compliance with the Code is therefore not obligatory for Trafigura but it has elected to comply with those provisions which it believes promote good corporate governance and (ii) are relevant for a privately owned company.
Trafigura is owned by its management and employees. This ownership structure enables Trafigura to achieve long-term growth by building sustainable, successful businesses combined with a prudent risk management philosophy. It contributes significantly to the depth and stability of our management teams, aligns employee and stakeholder interests and is a key ingredient to attract new employees.
The key features of the top level corporate governance structure are set out below.
The role of the Supervisory Board is to supervise the policies of the Board of Directors in relation to the general affairs of Trafigura, with particular emphasis on:
- Risk management.
Whilst retaining overall responsibility, the Supervisory Board delegates certain tasks to three permanent committees:
- Audit Committee
- Remuneration Committee
- Selection and Appointment Committee
Board of Directors
The Board of Directors is responsible for:
- Corporate strategy
- Stakeholder relations
- Oversight of Group activities
The Management Board is responsible for:
- Management of the Group’s core trading activities
- Coordination of commercial strategy with the industrial asset divisions