Stahl

Transforming Stahl’s leadership for a sustainable future

“At Stahl, we have a responsibility to our stakeholders to manage our business ethically and profitably. This is the foundation of good governance. Our approach begins with listening to our stakeholders to understand the issues that matter most to them. We then define the topics that are material to our business and address them through our strategy. In 2024, Stahl reviewed again its 2023 double materiality assessment (DMA), as part of preparations for the EU’s Corporate Sustainability Reporting Directive (CSRD). The DMA considers the impact of Stahl on society and the environment, as well as the impact of societal and environmental issues on the company.” Laura Willemsen, Group Director Sustainability and Marketing.

Stahl Group has a matrix organisation with a strong local presence and a regional set-up, together with centralised management located at the operational headquarters of Stahl Group: Stahl Holdings B.V. in the Netherlands. Stahl Parent BV is the direct shareholder of Stahl Holdings BV and Stahl Group S.A. is the shareholder of Stahl Parent BV as of the end of 2024.

Maarten Heijbroek was appointed as Stahl’s CEO and member of the Board on 1 July 2021.

The governance structure is as follows:

  • The board of Stahl Parent BV is a one-tier board and is responsible for the general affairs and strategy of Stahl Parent BV and its direct or indirect subsidiaries. The board is responsible for the formation and implementation of the corporate governance organization of the Stahl Group, including its management and reporting structure in accordance with the articles of associations of the relevant group companies, and is responsible for ensuring compliance with such rules. The Board of Stahl Parent BV, at the end of 2024, consisted of:

    • Two executive members: the CEO and CFO of the Stahl Group,

    • Five non-executive members – representatives of the Wendel Group and BASF Group (shareholders of the Stahl Group),

    • Two independent non-executive members.

  • Changes in Board composition during 2024: Elisa Philip (non-executive member, joined 2 January 2024) and Thierry Van Lancker (independent non-executive member, joined 26 April 2024).

  • Stahl’s Internal Auditor and Chief Compliance Officer of Stahl report to the Audit Committee. The Audit Committee met six times in 2024, with specific time given to implementing the steps needed to comply with CSRD.

  • There is a female occupation of 22% of roles in the extended leadership team and heads of function

  • The Stahl Leadership Team is responsible for the day-to-day business management:

    • Chief Executive Officer (CEO)

    • Chief Financial Officer (CFO)

    • Chief Operating Officer (COO)

    • Chief Innovation and Development Officer

    • Group Director Sustainability and Marketing

    • Group Director Leather Finishing

    • Group Director Performance Coatings

    • Group Director Packaging Coatings

    • Group Director R&D and Technical Application

    • Group Director Human Resources

    • Group Director Legal and Company Secretary

  • Regional management: the Stahl Group has four regional directors: Greater China & East Asia Pacific, India/Bangladesh, North America, and Latin America. Europe and Africa are managed from the operational headquarters in the Netherlands.

  • Stahl’s Extended Leadership Team meets every quarter, including four times in 2024. Members include The Extended Leadership Team, whose members include the Stahl Leadership Team, the Regional directors and key senior functions of the Stahl Group from the Divisions and Group Support Services (e.g. Finance, M&A, ESG, HR, Marketing, Communication, Tax, Legal, Compliance, IT, Internal audit and Risk).

  • Capex Committee, which is responsible for the review and authorisation of capital expenditure requests consists of the CEO, CFO, COO and Group controller.

  • Stahl has had a full-time internal auditor since 2020, directly reporting to the Audit Committee.