Corporate Governance and Corporate Management
Corporate Management and Compliance
The confidence of our customers, investors and employees is key to our ability to achieve sustainable growth and to increase company value.
We strengthen this confidence through responsible corporate management. Corporate governance and compliance are therefore high priorities at Leifheit.
At Leifheit, the term Corporate Governance stands for responsible corporate management and control geared towards creating sustainable value creation. To us, trusting cooperation between the Board of Management and the Supervisory Board, efficient internal and external control mechanisms, and a high level of transparency in corporate communications are matters of central importance. This way, we hope to secure the long-term confidence of our stakeholders in our company.
We give corporate governance a high priority and are guided by the recommendations of the German Corporate Governance Code (DCGK).
Leifheit largely complies with this evaluation criteria for good corporate governance. The deviations from the code are published in the statutory declarations of compliance.
Compliance Management System
Our compliance management system (CMS) includes basic guidelines and measures aimed at ensuring behaviour in line with the regulations at the company. It should assist our employees in observing the binding laws and regulations that apply to their work, along with recognised standards, recommendations and our own guidelines.
Behaviour in line with the regulations is both a key basic principle for Leifheit and the goal of commercially responsible conduct. The Board of Management and the management team of Leifheit are committed to compliance as a leadership duty. Operational responsibility (compliance officer) lies with the HR/Legal/IP division.
Our CMS includes guidelines and measures that reduce compliance risks and prevent violation of regulations and laws. Its principles and standards of conduct have been in place for years and are part of the day-to-day business routine. All compliance guidelines are available to Leifheit Group employees in at least German and English.
The key guidelines are also available in Czech, French and Chinese language versions.
As part of their duty to set an example for others, Leifheit managers are instructed to impart and model the compliance policies for their employees. Managers are responsible for ensuring that our guidelines are followed. A concept that provides our employees with regular training on our compliance principles through online e-learning modules was also developed. In 2019, approximately 70% of employees at the German locations completed compliance training. We will continue to intensify our training an communication measures in the future.
You will find further information with regards to Compliance Management at our Sustainability report.
We have established a whistle-blower system to give our employees and third parties the opportunity to safely pass along tip-offs to an ombudsman if they suspect or have evidence of potential legal violations at the company. An online communication platform, Integrity Line, has been available to whistle-blowers, along with the option to submit reports to the ombudsman in person.
Compliance violations are not tolerated, and all indications of misconduct are followed up.
Declaration of corporate management
The statutory declaration of corporate management in accordance with sections 289f and 315d German Commercial Code (HGB) includes the declaration of conformity with the German Corporate Governance Code, the explanation of our corporate management practices, the description of the work methods of the Board of Management and the Supervisory Board, as well as the composition and work methods of their committees, the information on the defined targets according to the German law on the equal participation of women and men in leadership positions and the description of the diversity concept.
Board members remuneration
The remuneration system for the Board of Management – presented by the Supervisory Board of Leifheit AG, based on the recommendation of its Personnel Committee – was approved by the Annual General Meeting on 25 May 2022.
The remuneration of the members of the Supervisory Board is defined in art. 12 of the articles of incorporation of Leifheit AG and by resolution of the Annual General Meeting on 29 May 2019 under agenda item 9 (resolution on a long-term variable remuneration for the Supervisory Board). The Annual General Meeting on 2 June 2021 confirmed art. 12 para. 1 to 7 and para. 9 to 11 of the articles of incorporation as well as the resolution of the Annual General Meeting on 29 May 2019 under agenda item 9 and reworded art. 12 para. 8 of the articles of incorporation with effect from 1 January 2020.
The Board of Management and Supervisory Board of Leifheit AG report clearly and transparently on the remuneration granted and owed to the members of the Board of Management and the Supervisory Board in accordance with section 162 of the German stock corporation act (AktG). The remuneration report was audited by the auditor. The audit opinion can be found at the end of the report. This remuneration report for financial year 2021 will be presented to the Annual General Meeting for approval on 25 May 2022.
Articles of incorporation
The German Stock Corporation Act dictates articles of incorporation for public limited companies. Leifheit AG would like to inform you of the current status of its articles of incorporation in accordance with the resolutions of the Annual General Meeting on 25 May 2022.
Board of Management and Supervisory Board
Board of Management
Henner Rinsche was born 1970 in Hamm. After completing his degree, he held various General Management and Marketing positions in Germany and abroad at Henkel, Danone, PepsiCo and Procter & Gamble.
Since 2011 Henner Rinsche held various senior positions at SodaStream, a leading manufacturer of sparkling water makers. Since 2015 he has been leading the European Business very successfully.
Since 1 June 2019, Henner Rinsche has been announced chairman of the Leifheit AG Board of Management. As Chief Executive Officer he is responsible for Sales, Marketing, Human Resources/Legal and for the private label business of Herby and Birambeau. From 1 April 2020 until April 2021, he was also responsible for the Finance, Controlling, Audit and Business Processes/IT divisions as Chief Financial Officer (CFO).
Igor Iraeta Munduate was born 1974 in Donostia – San Sebastian/Spain. He holds a degree in mechanical engineering of the Universidad de Navarra.
Most recently Igor Iraeta Munduate was responsible for operations, innovation management as well as Industry 4.0 and IoT (Internet of Things) of the value chain as Chief Technical Officer & Senior Executive Global Operations at Igus GmbH. From 2008 until 2014 he led R&D, Production and Quality Management at Stoba Präzisionstechnik GmbH & Co. KG as Technical Director. Furthermore, he has long-time experience in technical executive positions at the Robert Bosch GmbH. Since 1 November 2018 he has been member of the Leifheit AG Board of Management.
As COO he is responsible for the board departments Purchasing, Production, Logistics and R&D.
Marco Keul was born in Dernbach in 1982 and, after completing a commercial apprenticeship, completed a business degree at VWA Koblenz. He began his professional career in the controlling department at Leifheit AG in 2002 and took over as head of group controlling in 2012. From April 2020 to April 2021, in the role of Vice President Finance, he headed the areas of finance, controlling, IT/business processes and internal sales, for which he has been responsible as a member of the Management Board and Chief Financial Officer (CFO) since May 1, 2021.
From 2016 to 2020, Mr. Hesse was Chairman of the Board/CEO of HolidayCheck Group AG in Munich, before taking on the position of Vice President at Thrasio LLC, Walpole (US), a global consumer goods company focused on acquiring and scaling brands on the Amazon marketplace in 2021. Since July 2022, Mr. Hesse has been CEO of fashionette AG in Düsseldorf, a European e-commerce group for premium and luxury fashion accessories.
The members of the supervisory board have been appointed until the end of the shareholder meeting which decides on their exoneration for fiscal year 2023.
Profile of skills and expertise, diversity concept, objectives for the composition and rules of procedure of the Supervisory Board
It is an important concern of good corporate governance to ensure that the responsible corporate bodies are adequately staffed. Taking into account the legal requirements and the recommendations of the German Corporate Governance Code (DCGK), the Supervisory Board has set rules of procedure as well as objectives for the composition, the profile of skills and expertise and a diversity concept for the Supervisory Board.