Corporate Governance at Wienerberger

Wienerberger AG embraces approaches to responsible governance and oversight, which focus on creating value. This is fundamental to increasing the value of the company in the long-term. Austrian Law, the Austrian Code of Corporate Governance, statutes, the procedural rules of the different corporate bodies, as well as internal policies together form the basis of this framework.

Our lean organisational structure enables decisions to be made quickly and ensures efficient communication channels. The managing board and senior management work closely together to establish Wienerberger’s strategic direction and long-term allocation of capital. Our work is carried out by experienced and qualified local management teams. The supervisory board monitors all key strategy projects. As well as providing oversight and guidance, the supervisory board also acts in an advisory capacity. It is also responsible for the budget, strategy, overall development of the business, as well as risk and human resource management.

In October 2002, Wienerberger was one of the first Austrian companies to commit to the Austrian Code of Corporate Governance. This Code sets out strict policies on corporate governance and oversight, as well as transparency. Wienerberger meets all of the recommendations put forward in this Code.

Wienerberger regularly reviews the Company’s overall governance structure and processes as part of its ongoing efforts to continually improve the oversight of the business. Topics that were assessed during the most recent review included, but were not limited to, Company strategy and the interlinkage with governance; the Supervisory Board’s composition, role and processes; refreshment process for the Supervisory Board and remuneration.

The annual remuneration report combines the policies for the remuneration of Wienerberger AG’s managing board and its supervisory board. It elaborates on the size and composition of their salaries and provides information on the shares held by the managing and the supervisory boards. You can find the latest report here: Wienerberger Remuneration Report 2018.

Wienerberger’s managing and supervisory boards freely publish information regarding their ownership of Wienerberger’s shares. The company and the Financial Market Authority will be informed any time the company’s financial instruments are bought or sold by members of the managing and supervisory boards, in accordance with Article 19 of the (EU) Regulation No. 596/2014.

Facilitating dialogue with political and commercial decision-makers is an important part of our corporate governance. We use the following eight principles, in accordance with the Lobbying and Advocacy Transparency Law (LobbyG, Lobbying- und Interessenvertretungs-Transparenz-Gesetz) as the basis for our lobbying activities. This Code of Conduct applies to all bodies, as well as employees, of Austrian companies, where Wienerberger AG holds the majority of its shares.

Here, you can find the list of Wienerberger AG’s lobbying: the Public, Austrian Lobbying and Advocacy Register.