Corporate Governance

Corporate Governance

Aperam is committed to applying the highest standards in corporate governance in its dealings with shareholders and with respect to transparency and quality of disclosure and reporting. Shareholder rights and investor dialogue are key pillars of the Company’s corporate governance framework. In addition, the Company aims to take the interests of all its stakeholders into account through a corporate responsibility framework and by engaging with all its stakeholders on a regular basis. Aperam continually monitors legal requirements and best practices to make improvements to its corporate governance standards and procedures when necessary. The Company complies with the Ten Principles of Corporate Governance of the Luxembourg Stock Exchange, which constitute Aperam’s domestic corporate governance code.

Board of Directors

Aperam places a strong emphasis on corporate governance. Aperam has four independent directors on its seven member Board of Directors, and the Board’s Audit and Risk Management Committee and Remuneration, Nomination and Corporate Governance Committee are each comprised exclusively of independent directors. Mr. Lakshmi N. Mittal is the Chairman of the Board of Directors.

Leadership Team

The members of the Company’s senior management are set forth below. They are members of the Leadership Team, which is entrusted with the day-to-day management of the Company. The members of the Leadership Team are appointed and dismissed by the Board of Directors. The Leadership Team may exercise only the authority granted to it by the Board of Directors. 

Read the Articles of Association as of 5 May 2020

Essentials

Board Composition & Committees
Board Composition & Committees

The Board of Directors has two committees, including the Audit and Risk Management Committee and the Remuneration, Nomination and Corporate Governance Committee The Board of Directors’ Audit and Risk Management Committee and Remuneration, Nomination and Corporate Governance Committee are each comprised exclusively of independent directors.

Leadership Team
Leadership Team

The members of the Company’s senior management are members of the Leadership Team, which is entrusted with the day-to-day management of the Company.

Remuneration
Remuneration

Aperam’s Board of Directors receives a fixed remuneration approved every year by the annual general meeting of shareholders. Aperam’s senior managers remuneration policy aims to achieve a financially responsible balance between attractive fixed salaries, equity-based incentives and performance-related bonuses.

Risk Management & Audit
Risk Management & Audit

Aperam takes its responsibilities to shareholders, employees and the wider communities in which it works extremely seriously, and has measures in place to ensure compliance with regulations and best practice regarding internal control, risk management, audit and whistle-blowing.

Equity Incentive Plans
Equity Incentive Plans

The first shareholders’ meeting after the creation of Aperam of July 12, 2011 approved equity based incentives. The plan comprises a Restricted Share Unit Plan (“RSU Plan”) and a Performance Share Unit Plan (“PSU Plan”) designed to incentivise employees, improve the Group’s long-term performance and retain key employees.

Corporate Policies
Corporate Policies

See Aperam’s policies

Whistleblower
Whistleblower

Reporting of concerns regarding fraud, accounting and auditing matters at Aperam.

Spin-Off
Spin-Off

The spin-off of the stainless business from ArcelorMittal was proposed to the ArcelorMittal shareholders at an Extraordinary General Meeting in Luxembourg on 25 January 2011.

Financial Calendar

04/11/2020
Earnings for third quarter and 9 months 2020
29/07/2020
Earnings for 2nd quarter 2020 and 6 months 2020
06/05/2020
Earnings for first quarter
05/05/2020
Annual General Meeting of shareholders
05/02/2020
Earnings for 4th quarter 2019 and 12 months 2019