Group

Governance

Tereos makes governance changes and introduces Board of Directors effective 23 June 2022.

“It is essential that our new mode of governance reflects the roles and responsibilities that each person assumes on a daily basis for the cooperative. With this goal in mind, we have implemented the governance model approved by the General Meeting on 23 June 2022. The cooperative is now managed by a Board of Directors and a Cooperative Board. This management structure is bolstered by committees with clearer objectives, thereby creating a new governance dynamic working in the interests of our cooperative members”. Gérard Clay, Chairman of the Board of Directors.

Tereos’ approach to governance puts its cooperative members at the heart of the Group’s strategy. It aims to permanently combine operational efficiency with proximity to cooperative members. With this in mind, the governance approach wants to extract more value for the cooperative members, starting with remuneration for the agricultural produce they provide. It is based on a strong link—and a clear division of responsibilities—between elected representatives and the management.

Board of Directors

The Board of Directors is responsible for managing all the agricultural, industrial, commercial and financial activities of the Tereos Group, whether these are in the cooperative sector or its offshoots. As well as setting the Group’s operational guidelines and strategy, the Board of Directors establishes remuneration for cooperative members upon recommendation from the Cooperative Board. The Board of Directors comprises nine members elected from among Tereos’ 12,000 cooperative members. This management body may also have two permanent independent directors who have full participatory rights but serve only in an advisory capacity.

Gérard Clay was elected Chairman of the Tereos Board of Directors on 23 June 2022. He had been Chairman of the Supervisory Board since 18 December 2020. A player in the merger of Sucreries Distilleries des Hauts de France (SDHF) with Tereos in 2006, he is also a grower in Bryas (Pas-de-Calais, France). His farm, which produces sugar beet, potatoes, canned peas and cereal, is affiliated with the Tereos sugar factory in Lilliers (Pas-de-Calais).

Cooperative Board

The Cooperative Board lays the groundwork for the Board of Directors’ decisions on all the agricultural, industrial, commercial and financial activities related to the cooperative members’ crops and falling within the scope of Tereos France UCA, Tereos Nutrition Animale UCA and Tereos Starch & Sweeteners Europe. This Board comprises 18 members chosen from the 134 Regional Councillors. Its business is based on the work performed by the committees on beet, alfalfa, potato starch and animal feed.

Regional assemblies

Each regional assembly brings together all the cooperative members from a region. Decisions, mainly on the election of representatives, are taken in line with cooperative principles, in other words, “one person, one vote”. Regional assemblies provide an opportunity to share information about Tereos’s activities, financial results and projects with cooperative members. They also elect the regional councillors who represent the cooperative members at the Tereos Plenary General Meeting. The regional assemblies take place in the spring, after the end of the financial year and before the Plenary General Meeting.

Regional councils

The role of the regional council is to nurture and develop the relationship with Tereos’ cooperative members across the region. It takes specific regional factors into account and makes proposals to the Board of Directors. Each regional council consists of councillors elected at General Meetings, and a third of mandates are renewed each year. There are 134 regional councillors in total, spread across six regions.

Executive Committee

The Board of Directors delegates the Executive Committee to implement the decisions taken in the interests of the cooperative members. The Executive Committee ensures that managers, and all teams that make up the operational and functional divisions, fully understand and execute the strategy.

Ludwig de Mot joined Tereos on 7 April 2022 as Chief Executive Officer. With a career spanning 25 years in industry and B2B, Ludwig de Mot has held positions of responsibility on the executive committee of several large groups such as McBride (cleaning products), Lhoist (minerals and lime producer) and SCA Packaging (forest industry). His industrial experience and expertise in transformation will help the Group to establish a culture of performance across its various production plants, keep improving financial results, drive CSR strategy and thereby get back to sustainable profitability even faster.