Board of Directors and Committees
Trafigura is owned by its senior employees. This alignment of employee and shareholder interest promotes sustainable financial performance with management depth and stability.
Board of Directors
The principal oversight body for the Group is the Board of Directors, which has overall responsibility for the strategic direction and management of the Group, including commercial and financing strategy and stakeholder relations. Members of the Board of Directors are listed on the opposite page.
The directors with executive responsibilities are also members of the Management Committee and subsidiary committees as outlined below. Management of the Group is characterised by short reporting lines, flat structures, clear delineation and segregation of responsibilities, and personal accountability.
Employee remuneration is linked to Group performance and individual contribution. The Group’s circa 1,000 senior employees, in their capacity as shareholders, have a personal commitment to its long-term success, promoting management depth and stability and encouraging prudent risk management.
Board Sub-Committees
In September 2021, a new sub-committee focused on environmental, social and governance (ESG) risks and strategy was established to sit within the Board of Directors and the Management Committee, alongside the existing Audit, Compliance and the Nomination and Remuneration Committees.
The ESG Committee is chaired by the Group’s Executive Chairman and Chief Executive Officer, along with one executive director and two non-executive directors. The new committee enables further Board-level engagement and input into the Group’s material ESG risks and strategy
The Audit Committee assists the Board of Directors in fulfilling its oversight responsibilities for the financial reporting process, the system of internal control the audit process.
The Nomination and Remuneration Committee assists and advises the Board of Directors on matters relating to the appointment and remuneration of the Executive Directors, the Management Committee and other senior employees of the Trafigura Group.
The Compliance Committee is responsible for ensuring that the company identifies and robustly implements all processes and controls necessary to implement compliance with all applicable laws and regulation as well as our Code of Business Conduct and supporting compliance policies.
Management Committee
The eight-member Management Committee sits below the Board of Directors and includes Trafigura’s three executive directors. The Management Committee is responsible for the execution of Trafigura’s business strategy, including management of the day-to-day trading, commercial and operational functions and its investment portfolio.
Corporate Committees
The Management Committee is supported by the four following corporate committees, illustrated on the facing page and described in further detail here.
- Market Risk Management Committee
- Finance Committee
- Operational HSEC Steering Committee
- Commercial ESG Steering Committee
As part of our governance restructure, the Group’s HSEC Steering Committee and Climate Change Group were dissolved and reformed into the Operational HSEC Steering Committee and the Commercial ESG Steering Committee.
These new steering committees, which separate operational health, safety, environment and community (HSEC) and commercial ESG issues, enable discussions to be more targeted, efficient and directly relevant to members and attendees. Each of the new steering committees are led by a member of the Management Committee to ensure that senior management is kept informed about and can engage with key HSEC and ESG issues relating to the Trafigura Group.
