Governance

Q-Park stands for good corporate governance with proper supervision. The duties and responsibilities of executive directors, supervisory board members and shareholders are carefully defined. The Q-Park Governance is anchored in the articles of association.

General Meeting of Shareholders (GMS)

The highest governing body within Q-Park is the 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.

Supervisory Board (SB)

The SB consists of five to seven members. The allocation of tasks, responsibilities, authorisations and the working practices of the SB are documented in regulations which are checked externally.

Executive Board (EB)

The EB consists of three members under the supervision of the SB. The SB has the authorisation to suspend EB members. The members of the EB fulfil the roles of:

• CEO – chief executive officer

• CFO – chief financial officer

• CTO – chief transformation 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 advice to execute the approved strategy effectively. CEO is chair.

Investment committee

The investment committee coordinates the new business process, analyses investment proposals on a weekly basis and supports the EB with recommendations. CFO is chair.

CSR committee

The Corporate Social Responsibility committee makes proposals and recommendations regarding corporate responsibility, policy and developments, reporting and stakeholder engagement. CEO is chair.

Works council

Q-Park follows the regulations for works councils 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. Corporate management 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

Country management

Country Management consists 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

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

Provision of information

Each month country management provides the EB with up to date operational and financial information.

The shareholders are informed regularly about the state of affairs.

Gender balance

A temporary provision in the Management and Supervision (Public and Private Companies) Act requires that large enterprises must balance the appointment of men and women or explain why there is no equilibrium and what measures the organisation intends to take to improve the balance.

At Q-Park, the EB members are men. The appointments are therefore not evenly distributed across the genders. We aim to reach at least 30% representation of women gender equality in our board(s) and our top senior leaders in our graduate recruitment.