Broadly speaking, Recticel has divided its activities among four different business lines: Flexible Foams, Bedding Insulation and Automotive. Athough there are significant differences between these various activities, there are also a number of areas where they overlap, which makes the Group into a unique and integrated whole.
These are the key organisational units. Recticel believes in decentralisation and in entrusting a large degree of autonomy to each of its business units. The business units in turn are held accountable for their contribution to the Group’s value creation.
In addition ot the business lines and buiness units, the Group also has headquarters (established in Brussels, Belgium), a central ICT Department and an International research and Development Centre (IDC). The latter two are established in Wetteren, Belgium.
The Recticel headquarters perform the following corporate activities:
- The Financial Department is besides its basic responsibilities regarding controlling, accounting and consolidation, treasury management, internal financial reporting and taxation also giving its support in the evaluation of investment and divestment projects, mergers and acquisitions. It also supports the overall management.
- The Legal Department comprises a wide range of activities which focus fundamentally on the prevention of legal risks and on the defence of the Group when a number of these adverse risks materialise and could potentially harm the Group’s interests. In practice, the Legal Department is involved in lawsuits concerning safety and environmental risks, insurance policies, fire safety and other intellectual rights, contracts with third parties, legal proceedings, regulatory tasks, corporate affairs and compliance, relations with the stock exchange and the financial supervisor, etc. In addition, the Department also plays a leading role in the structuring of mergers, acquisitions and divsetments, both within and outside the Group. Within the Legal Department, the corporate risk division is responsible for industrial risk management.
- The Human Resources and Communications Department is responsible for the salary and bonus policy at Group level, talent management and competence development, internal and external communication and investor relation’s events.
- The Central Purchase Organisation is responsible for procuring mainly raw materials and consumables, capital goods, services, etc., which can be purchased mainly at Group level. Contracts for the supply of the most important chemicals have already been negotiated and concluded at Group level for many years. The Group also works actively on negotiating other important purchases centrally.
- The Internal Audit Department works based on an Internal Audit Charter and has the primary function of delivering objective opinions about the internal control in place in the Recticel Group. The Internal Audit aims at providing the reasonable assurance that the strategic, operational, compliance and reporting objectives of the Recticel Group can be realised in the most efficient way. To this end they seek to ensure the following objectives:
-> the reliability and integrity of the information;
-> compliance with policies, plans, procedures, laws and agreements;
-> safeguarding of assets;
-> economical and efficient use of resources;
-> achieving the goals set by operations and programs.
- The Information and Communication Technology (ICT) Department mainly provides support to the organisation for the global IT platform. It not only supervises the harmonisation of the various IT modules, but is also always alert to the strict application of rigorous control systems (in cooperation with the Internal Audit Department). The Group currently works mainly with an integrated SA package designed to harmonise and standardise the various information flows as far as possible.
- The activities of the International Development Centre (IDC) will be discussed in a special section dedicated to innovation very soon.