Our Environmental, Social and Governance policies
Appropriate and flexible corporate governance, which provides the framework for a sound and effective corporate governance model, is an essential means of ensuring sustainable and responsible business practices and overseeing the organisation and this ESG policy.
Democo Group has opted for a traditional, monistic governance structure (e.g. management and supervision through a single governing body). Our structure has been designed to support and enable our people to combine the highest ethical standards with stable economic growth.
Democo is a family-run business founded in 1977 by Cyriel Demot, Frans Houben and Mario Longhi. After a period of rapid growth, the Group now consists of several construction companies, technical companies and a property developer, operating mainly under five brand names (Democo, Ciril, The Energy Circle, Deholi, AEW Security), with branches in Belgium, Poland and Portugal. Since the buyout of Mario Longhi in 2002, the shareholding has been mainly in the hands of the two remaining families. The family shareholders signed a family charter setting out values and rules of conduct. A shareholders' agreement also binds all the shareholders of Democo Group.
As of 2024, Democo Group is led by the third generation, more specifically by Thibaud Demot as CEO and Raf Houben as COO.
Democo Group is managed by a board of directors, which is accountable to the general meeting, which appoints and dismisses the directors. Family values inspire the board’s strategy and the values of Democo Group (see the Views, Mission & Values section above). The board of directors is chaired by Hans Wilmots.
Aside from the powers reserved by law for the general meeting, the board has the broadest powers to manage the group. These include statutory powers such as the approval of financial statements, the preparation and approval of annual reports and the group’s general management. The board determines the strategy and oversees strategic projects; it approves budgets and significant investments and maps out the policies for human resources, IT, sales and marketing. The board acts as a sounding board for management and appoints key management personnel.
The board also sets the overall risk policy and organises the supervision of activities. As the company’s highest deci-sion-making body, the board of directors is also responsible for determining ESG strategies, overseeing ESG responsibilities and evaluating ESG performance. The board of directors meets at least four times a year. The board of directors has three categories of directors:
| Director | Type |
|---|---|
| Hans Wilmots | Chairman of the Board of Directors |
| Thibaud Demot (through Tdevelopment BV) | Executive director |
| Raf Houben (through Rafine BV) | Executive director |
| Johan Van den Broeck (through MaliBe BV) | Executive director |
| Philip Demot (through Cyga BV) | Non-executive director |
| Rudy Houben (through Tiga-R NV) | Non-executive director |
| Michel Demot | Non-executive director |
| Ronny Houben (through Sarkri NV) | Non-executive director |
| Joris Brams (through Joris Brams BV) | Independent director |
| Jos Steegmans (through Namicom BV) | Independent director |
The board of directors has formed an audit committee from among its members. The audit and risk management committee assists the board of directors in exercising its role of supervising financial reporting, internal management control and process management systems. It also supervises the audit process and the setting up of a dynamic risk management and governance system.
The audit and risk management committee also monitors the environmental and social components of the company’s ESG policy as part of its overall auditing responsibilities.
The audit committee meets at least twice a year.
| Members | Capacity |
|---|---|
| Jos Steegmans | Chair |
| Johan Van den Broeck | Member |
Philip Demot | Member |
Bart Vanaenrode | Member |
| Jochen Willen | Member |
| Hans Wilmots | Member |
| Thibaud Demot | Member |
| Raf Houben | Member |
The board of directors has appointed an executive committee This committee is responsible for implementing the strategy determined by the board of directors.
The executive committee assists the board of directors in defining the group’s values and strategy, including the ESG policy, and promoting and optimising the various business units within the group. The executive committee meets ten times a year.
| Members | Capacity |
|---|---|
| Thibaud Demot | Chair (CEO) |
| Raf Houben | Member (COO) |
| Johan Van den Broeck | Member (CFO) |
| Thomas Bijnens | Member |
| Pieter Vanhout | Member |
| Antal Potocan | Member |
| Sophie Hayen | Member |
| Ilse Claes | Member |
| Tim Lemmens | Member |
| Jochen Willen | Member |
The day-to-day management of the business units has been delegated to one or more general directors. The board of directors has determined the roles and responsibilities of the general directors.
The general directors are responsible for implementing, updating and managing the ESG policy for their respective business units.