Ethical behaviour & Governance

In the past years, the Cordeel Group has grown rapidly: new companies were set up and acquired, and new divisions were established. We professionalised our organisation to be ready for further growth.

Our governance structure

ESRS2-GOV1, DP 22, 22ci, 22cii

Cordeel Group applies a well-defined governance structure, separating strategic oversight from day-to-day operations.

The Board of Directors is composed of family members, with Filip Cordeel being the sole shareholder and chairman. The board is responsible for the Group’s long-term strategy, major investment decisions, and the approval of business plans. Pascale Van Damme completes the Board in her function as Group CEO.

Operational management is led by the Executive Committee (ExCo) of Cordeel Group. The ExCo includes the Group’s leadership and the CEOs of the Group’s divisions. The ExCo meets monthly to ensure coordination and alignment across all business lines.

 

SDG - 16: Peace, justice and strong institutions

Several ExCo members also serve on the Sustainability Committee, reflecting the priority given to sustainability at the highest governance level.

In addition, the Group’s CEO, CFO, COO, and Chief Growth Officer meet with the division CEOs bi-weekly to review operational progress, address short-term challenges, and drive execution. This frequent interaction supports agility and responsiveness across the organization.

Each company within Cordeel Group is led by a CEO, managing director, or operational manager. Company boards generally include the division CEO and the operational lead.

 

 

Corporate governance charter

Our Corporate Governance Charter is a tool through which Group Cordeel aims to further integrate its mission, vision, and corporate values into the operations of all governing bodies of the Group.

By developing this Corporate Governance Charter, Group Cordeel endorses the spirit, principles, and objectives of good governance. It ensures that the Group is governed, managed, and controlled in a responsible, sound, efficient, and transparent manner.

Directors are being elected for six years and can then be re-elected.

The Corporate Governance Charter includes a statement of non-discrimination.

As a non-listed company, the Group has been inspired by the voluntary recommendations of Code Buysse III.

We are convinced that this Corporate Governance Charter will lead to long-term value creation, as well as:

• professionalisation and alignment of the various governing bodies within the Group and their operations
• integrity and transparent decision-making processes
• better decisions aimed at long-term success
• an objective way to address conflicting interests
• assurance of business continuity within a broad socio-economic frameworks

COC for employees and directors

The Code of Conduct is reviewed annually and comprises:

  • The Workplace Conduct which outlines expectations for employees’ behaviour in the workplace, including professionalism, safety, and diversity and inclusion.
  • The Business Conduct which outlines expectations for ethical business practices, including anti-corruption, fair competition, and protection of confidential information.
  • Environment, Health, and Safety which outlines expectations for employees’ behaviour to ensure environmental sustainability and safety in the workplace.
  • Reporting violations which outline the procedures for reporting violations of the code of conduct and encourage employees to report any suspected violations.
  • Consequences of violations which outlines the potential consequences for violating the code of conduct, including disciplinary action and termination of employment.

 

GDPR and data protection

We attach great importance to the safe, transparent and confidential collection and processing of personal data. We place a high priority on protecting data belonging to parties that include our clients, subcontractors and suppliers against, among other things, loss, leaks, errors, unauthorised access and unlawful processing.

We composed a Data Protection Notice explaining how we collect and process personal data.

Procedure for reporting concerns

G-1, DP 10c, 10e/ G1-3, 18b

We implemented a whistleblower tool to enable internal and external stakeholders to raise concerns anonymously.

Reported irregularities are being investigated independently and promptly by the confidential advisor.

 

hier tekst

Ethical behaviour training

In the end of 2024 we created a training on ethical behaviour in our Learning Management System.

The functions at risk had to follow the training first. We define “functions at risk” as the colleagues that are in constant contact with our customers and suppliers and take decisions in  the collaboration with them.

  • Project managers
  • Purchasing
  • Sales
  • Project Development
  • Finance department paying invoices
  • Directors

189 employees and directors were asked to follow the training, by 31/12/2024 52% of them finished it.

In 2025 we will roll out this training to the complete Cordeel organisation.

 

G1-1, DP 10a, 10g, 10h

G1-3, DP 20, 21a, 21b

SDG - 16: Peace, justice and strong institutions

Number of incidents of corruption or bribery

G1-4, DP 24a, 25a

2023 2024
Number of confirmed incidents of corruption or bribery 0 0
Number of convictions for violation of anti-corruption and anti- bribery laws 0 0
Amount of fines for violation of anti-corruption and anti- bribery laws 0 0

Human rights

Our internal website, Check In At Work (CIAW), represents a completely digital solution for monitoring, reporting and follow-up of individuals present on a site, including subcontractors.

CIAW also verifies all essential employment documents required for work in Belgium, ensuring that ethical and responsible work practices are maintained.

Due diligence for subcontractors and suppliers has been set up and is included in evaluation of suppliers.

 

No severe human rights issues and incidents connected to own workforce have occurred.

G1-17, DP 104a

SDG - 16: Peace, justice and strong institutions
SDG - 10: Reduced inequalities

Gender diversity of the ExCo

|
  •  Men
     76.9
    %
  •  Women
     23.1
    %