Corporate Governance
Eurofins aspires to the highest standards of corporate governance as part of its vision to be the world leader in bioanalytical testing. Inspiring leadership and efficient organisational structures and systems should enable it to reach this goal and also provide shareholders with additional comfort as well as high returns on investment.
Eurofins currently aims to comply with the best practice corporate governance guidelines as set out in the AFEP/MEDEF recommendations (which can be found via the following web link: http://www.medef.fr/main/core.php). As a company registered and listed in France, Eurofins is also regulated by the AMF and NYSE Euronext. Furthermore, it complies with the rules set down by the Deutsche Börse due to its listing on the Prime standard section of the Frankfurt market.
The Company believes that a principles-based approach allows it to continue to be entrepreneurial at the same time as looking after shareholders interests. Indeed these two concepts should complement rather than compromise each other. The Conseil d’Administration (Supervisory Board) also believes that a company with a good approach to corporate governance is a sign of a well-managed company.
The Conseil d’Administration considers that the current corporate governance environment at Eurofins is appropriate for a business of its size, nature and operations.
In fact, during the year the Company continued to make efforts to improve its overall standards of governance. In particular, there were several changes in the leadership team (detailed later in this report). Specific key objectives for Eurofins in 2009 continue to be:-
the appointment of independent board members and
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the setting up of an independent remuneration committee