Corporate Governance

 

 

Atradius endorses the importance of sound corporate governance. Key elements of independence, accountability and transparency, create a relationship of trust between Atradius and all of its stakeholders such as employees, customers, suppliers, shareholders and the general public. Atradius will continue to remain focused on corporate governance as the Atradius Group of companies develops and the business world changes. Atradius N.V. is a limited company organised under the laws of The Netherlands with a Management Board and a Supervisory Board.

Management Board

The Management Board of Atradius N.V. as a whole is responsible for the management and the general affairs of Atradius and is supervised by the Supervisory Board. The General Meeting of Shareholders has the authority to appoint, suspend or dismiss a Management Board member on the recommendation of the Executive Committee of the Supervisory Board.

 

Isidoro Unda
Chairman of the Management Board and Chief Executive Officer

Isidoro Unda was appointed Chairman of the Management Board and Chief Executive Officer (CEO) of Atradius N.V. in July 2007. In connection with his appointment he stepped down from the positions of Atradius Supervisory Board member (December 2003) and Vice Chairman (2006).

As CEO he is responsible for the units Strategy, Product & Quality Management, Human Resources, Legal & Compliance, Internal Audit, and Corporate Communications & Marketing.

Prior to joining Atradius, Isidoro Unda served as CEO of the leading Spanish credit insurer Crédito y Caución, since 2001. He joined Crédito y Caución in 1988.

Mr. Unda has a degree in Law and Economics from Deusto University in Bilbao (Spain). He has worked in the financial and insurance sector for more than 20 years and has served on the Supervisory Boards of Inverseguros S.A. and Mutua Madrilena Automovilista.

 

Dr. Peter Ingenlath
Vice Chairman of the Management Board and Chief Market Officer

Dr. Peter Ingenlath was appointed as Chief Market Officer (CMO) in August 2010, a role that he had fulfilled also from 2004 to 2008. He continues in his position as Vice Chairman of the Management Board of Atradius N.V.

As CMO he is responsible for credit insurance throughout Europe (excluding Spain and Portugal), NAFTA, and Asia Pacific, and the units Dutch State Business, Global, Special Products and Outward Reinsurance.

In September 2006, Peter Ingenlath took on the additional role of Acting CEO of Atradius, from which he stepped down with the arrival of Mr. Unda in July 2007. From May 2008 until July 2010 Peter Ingenlath fulfilled the role of Chief Risk Officer.

Peter Ingenlath has a degree as well as a PhD in Law from Bonn University in Germany and has worked for Atradius and its predecessor companies since 1990. Prior to joining Atradius he was a practising lawyer.

 

Delfin Rueda
Chief Financial and Risk Officer

Delfin Rueda was appointed Chief Financial Officer (CFO) in January 2005. In August 2010, he took on the additional role of Chief Risk Officer (CRO).

As Chief Financial and Risk Officer (CFRO) his responsibilities include Finance, Financial Control, Corporate Finance, Risk Management, Group Buyer Underwriting, Claims & Recoveries and Risk Services.

Delfin Rueda joined Atradius from JP Morgan (London), where he was Senior Vice President of Corporate Finance in the Financial Institutions Group since 2000. From 1993 to 2000, he worked for UBS in London as Executive Director in Corporate Finance advising Corporates and Financial Institutions. He began his career as a strategic business consultant in 1987 with Andersen Consulting in Madrid.

Delfin Rueda has a degree in Economic Analysis and Quantitative Economics from the Complutense University of Madrid and an MBA from the Wharton School, University of Pennsylvania, where he also worked as a Teaching Assistant of Macroeconomics.

 

David Capdevila
Chief Market Officer

David Capdevila was appointed Chief Market Officer in May 2008.

As CMO he is responsible for credit insurance in Spain, Portugal and Brazil and since August 2010 also for the units Collections, Bonding, Instalment Credit Protection and Atradius Re.

Since 2006, Mr. Capdevila has served as General Manager of Crédito y Caución. From 2003 to 2006, he was a member of the management committee of Grupo Catalana Occidente, which he had joined in 1992 and where he progressively served in more senior roles within the organisation.

David Capdevila has an actuarial economist degree from the University of Barcelona and an MBA from IESE Business School in Barcelona.

 

Supervisory Board

The Supervisory Board of Atradius N.V. currently consists of eight members.

Paul-Henri Denieuil (Chairman)
Ignacio Álvarez (Vice Chairman)
Francisco Arrequi
Jan Holsboer
Jesús Huerta de Soto
Bernd-Hinrich Meyer
Dick Sluimers
Jose Ruiz

 

Roles and procedures

The Supervisory Board supervises the Company's general affairs and the policy pursued by the Management Board. The General Meeting of Shareholders has the authority to appoint the members of the Supervisory Board on recommendation of the Executive Committee.

The members of the Supervisory Board are appointed for a term of three years. They may be reappointed but may not serve on the Supervisory Board for more than twelve years. The Supervisory Board regulations describe the division of duties and the procedures of the Supervisory Board.

 

Committees of the Supervisory Board

The Supervisory Board has set up the following committees:

Audit Committee

The Audit Committee helps the Supervisory Board fulfil its supervisory and monitoring duties with respect to the assurance of the integrity of the Company's financial statements and its compliance with legal and regulatory requirements, the external auditor's qualifications, and the performance of internal and external auditors. The Audit Committee monitors, independently and objectively, the financial reporting process within Atradius and the system of internal controls. It also facilitates the ongoing communication between the external auditor, the Management Board, the Internal Audit department and the Supervisory Board on issues concerning the Company's financial position and financial affairs.

Risk and Finance Committee

The Risk and Finance Committee helps the Supervisory Board fulfil its supervisory and monitoring duties with respect to risk management and control, the monitoring of the balance sheet and investment portfolio, and the financing of Atradius' activities.

Executive Committee

The Executive Committee helps the Supervisory Board fulfil its supervisory and monitoring duties with respect to strategy, proposals for the nomination of members of the Supervisory and Management Boards, the remuneration policy and the remuneration of senior management and other corporate governance matters.