Shareholders

The highest governing body within Q-Park is the General Meeting of Shareholders (GMS). The agenda for the GMS is drawn up by the executive (EB) and supervisory boards (SB). Shareholders are also entitled to place items on the agenda. The following aspects of policy may be discussed during these meetings:

  • Annual accounts and the audit.
  • Appointment of the external auditor.
  • Business plan with budget and long-term objectives.
  • Issue of shares, dividend and basic financial principles.
  • Remuneration policy for the SB and EB.
  • Personal profile for the appointment of supervisors.
  • Appointment of supervisors.

As a rule, the GMS meets twice a year. In addition, the shareholders are informed on an ad-hoc basis during specifically designed information days. These settings provide ample opportunity to discuss matters in detail.

Supervisory Board (SB)

The SB consists of five members who operate critically and independently from each other and from the EB. Supervisors are selected based on their experience in relevant areas such as finance, investment property and long-term investments; and for their insight into the governance and political environment.

Based on a profile, the GMS and the EB may nominate individuals for appointment to the SB. Supervisors are appointed or reappointed by the GMS on the recommendation of the SB.

A supervisor may be appointed for no more than two terms of four years each. The allocation of tasks and the working practices of the SB are documented in regulations which are checked externally. The schedule of retirements is also documented.

SB Committees

SB Committees are formed by the supervisors to advise on specific subjects. These are the remuneration committee and governance committee, each consisting of three supervisors, and the audit committee, which consists of two supervisors.

Remuneration committee

The remuneration committee makes proposals regarding the remuneration policy, the remuneration for each executive and draws up the remuneration report.

Governance committee

The governance committee makes proposals regarding the appointment of EB and SB members and makes recommendations regarding corporate governance and social responsibility.

Audit committee

The audit committee assists in monitoring compliance with legislation and regulations, the reliability and relevance of financial reporting, the effectiveness of financial reporting and of risk management, and the performance of the external auditor.

Executive Board (EB)

The EB consists of two members under the supervision of the SB. The SB appoints the members of the EB and has the authorisation to suspend or dismiss members.

An executive may be appointed for no more than two terms of four years each. The standing orders for the EB are drawn up by the SB and detail the allocation of tasks, authorisations and working practices.

The two members of the EB fulfil the roles of:

  • CEO – chief executive officer
  • CFO – chief financial officer

EB Committees

EB Committees are formed by at least one EB member and one or more Directors to advise on specific subjects.

Management committee

The management committee supports the EB on a weekly basis with tailored advise to execute the approved strategy effectively. CEO is chair.

Group steering committee

The group steering committee is formed by the EB and the region directors (RDs) to advise on strategy and evaluate on performance on a quarterly basis. CEO is chair.

CRC committee

The corporate responsibility committee (CRC) makes proposals and recommendations regarding corporate responsibility and sustainability policy and developments, integrated reporting and stakeholder engagement. CEO is chair.

IFC committee

The international finance committee (IFC) makes proposals and recommendations regarding operational finance and administrative policy, projects and developments. CFO is chair.

ICT committee

The information and communication technology (ICT) committee makes proposals and recommendations regarding ICT policy, projects and developments. CFO is chair.

EB Councils

EB Councils are formed by multi-disciplinary and/or international team members with specific knowledge and experience, who operate independently of the Executive Board. An appropriate Director is chair.

The councils provide access to best practices, easy-to-use analytics and implementation tools, and tailored advisory support so the Executive Board can execute the approved strategy effectively. There are multiple independent councils among which;

  • Investment Council (Corporate Director IPM is chair)
  • Innovation Council (Corporate Director Innovation is chair)

External auditor

The GMS appoints the external auditor each year on the advice of the audit committee, the EB and on the recommendation of the SB.

Works council

Q-Park follows the regulations applicable in each country where Q-Park is present. If these require a works council or social delegation, Q-Park will make the appropriate provisions.

Management

Q-Park has short lines of management and a flat consultative structure to ensure good communication within the organisation. Q-Park NV supports country management and its main tasks are:

  • Developing strategy.
  • Overseeing;
    • strategy implementation,
    • management of the countries,
    • performance of activities that serve the objectives of the business plan,
    • employee remuneration policy in the countries,
    • financing, ICT systems and taxation.
  • Evaluating strategy performance.
  • Managing risk and the relationship with investors.
  • Monitoring house style and brand management.
  • Reporting for shareholders and banks.

Region Management

A region is a group of countries with a distinct culture, business model and economic strength. Region management enable us to ensure greater quality in the services provided to the parking customer and business partners, while improving efficiencies and effectiveness through shared services and increased standardisation.

We have grouped the ten country-specific operational companies into four regions, with each a Region Director (RD):

  • Region Mid - The Netherlands and Germany
  • Region South - France and Belgium
  • Region West - United Kingdom and Ireland
  • Region North - Sweden, Denmark, Norway and Finland

Country Management

Country management consist of a Managing Director (MD) and a Finance Director (FD) who may only take material decisions together, thus always applying the four-eyes principle.

Corporate Management

Corporate management together with the EB discuss the medium to long-term corporate strategies and policies, and assign responsibilities to oversee the performance of functional areas and progress of business projects.

Provision of information

The shareholders are informed regularly about the state of affairs. Key documents in this reporting framework are:

  • Annual report
  • Quarterly financial reports
  • Business plan
  • Integrated responsibility report

Each month country management provides the EB with up to date operational and financial information. Each quarter they give account in the form of a management report, to be discussed with the EB.

The definitions, accounting policies and procedures for the financial administration of Q-Park NV and its group companies are in accordance with International Financial Reporting Standards (IFRS) as approved by the EU and are described in detail in the Accounting Manual. These frameworks also form the basis for drawing up the annual business plan and budget, investment plans, proposals for share issues and interim financial information.

Legal structure - plan 2017

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