Corporate governance

Introduction

The Executive Board and the Supervisory Board of the Rickmers Holding AG, Hamburg, are committed to securing the company’s viability and to achieving a sustainable increase in enterprise value through responsible and long-term orientated corporate management.

Rickmers Holding AG, Hamburg, is not publicly listed on stock exchanges. Consequently, the Executive Board and Supervisory Board of Rickmers Holding AG, Hamburg, are not required to declare the extent to which the company has implemented the recommendations of the German Corporate Governance Code (DCGC). However, the DCGC is also used as a guide for the quality and form of corporate governance and control at Rickmers Holding AG, Hamburg. Besides observing these generally recognised principles of good corporate governance, the company’s own guidelines and standards contribute towards good, sustainable business development at the Rickmers Group.

Management

Rickmers Holding AG, Hamburg, has a dual management system that distinguishes between the Executive Board as the managing body and the Supervisory Board as the advising and monitoring body. The Executive Board of the Rickmers Holding AG, Hamburg, is responsible for the management of the company on its own responsibility. Its responsibilities include determining company goals, defining the strategic direction of the Group, managing the Group and corporate planning. The Executive Board regularly reports to the Supervisory Board in a timely and comprehensive manner on all issues relevant to the company, including business developments, the implementation of strategy, planning, the financial and income situation, as well as risk management. It ensures compliance with statutory provisions and internal Rickmers Group regulations. The CEO coordinates collaboration with the Supervisory Board and regularly consults with the Chairman of the Supervisory Board. 

The Supervisory Board advises the Executive Board on strategic issues and important business transactions. The Executive Board and the Supervisory Board have a close and mutually trusting working relationship to meet the requirement of quick yet diligent decision-making processes. Fundamental issues of corporate strategy and their implementation are openly discussed and deliberated at joint meetings. 

Shareholders

Bertram R.C. Rickmers is the sole shareholder in the company. Through the General Meeting of the Rickmers Holding AG, Hamburg, via which the shareholders exercise their rights, the sole shareholder appoints the Executive Board and members of the Supervisory Board.

Compliance

The Rickmers Group and its business segments are active in many countries and various regulatory environments and are therefore subject to different cultural and national standards and legal provisions. It is therefore important that in particular the Executive Board and all employees at every level of the company understand the Group’s commitment to compliance and share the same values of integrity. Quintessential elements of the corporate culture at the Rickmers Group are compliance with the law, incorruptibility and fair competition. Compliance with laws and internal regulations designed to avoid exposure to legal risks and their consequences has for this reason always been highest priority. 

Transparency

The core element of model corporate governance is the transparent presentation of developments and decisions within the enterprise. Constant and open dialogue with all stakeholders secures trust in the enterprise and its value creation.

In order to gain the trust of potential investors and maintain the esteem of the shareholder, the Rickmers Group has embarked on a policy that ensures a high degree of transparency in financial communication. Shareholders, the Supervisory Board, banks, investors and business partners are actively provided with comprehensive information enabling them to assess the company’s performance and financial strength.