Centre Listed Companies

GUBERNA has always had a specific focus on corporate governance in listed companies. Together with our partners EY, VBO FEB, and Allen & Overy, we strive to capture the relevant national and international developments on corporate governance & corporate law and share experiences on implementation of best practices. We help companies find the right balance between compliance and purpose-driven sustainable value creation. In addition, we regularly carry out research and organise activities for listed companies. 

Further, GUBERNA is a member of the Belgian Commission for Corporate Governance, and ecoDa (European Confederation of Directors' Associations), which gives us a unique position. Read more about GUBERNA International. In this way, GUBERNA is involved in all relevant Belgian and European corporate governance developments which allows us to let our voice be heard, in Belgium and on a European level.

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For whom?

The Centre Listed Companies is the governance partner for Belgian listed companies and their boards. We also provide useful resources for management teams, secretary generals, and advisors of listed companies.

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Different ways to engage with us

GUBERNA organises different activities for listed companies. With workgroups, round tables and other events, we dive into and debate on several relevant themes with listed companies.  On a yearly basis we organise the Listed Company Day where we zoom in on different innovations and new challenges for listed companies, not just from a legal standpoint, but also broader: economic, social, etc. In addition, GUBERNA has initiated two exchange platforms exclusively for members. The Secretary General Platform is a forum to share experiences related to the the missions of the secretary generals. The Remuneration Platform allows members to share best practices on topics related to board & executive remuneration and the role of the remuneration committee.

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Publications for Listed Companies

GUBERNA offers valuable publications for listed companies, including a monitoring study on compliance with the Belgian Corporate Governance Code, a report on non-executive directors' remuneration for benchmarking, and a study on sustainable value creation focusing on ESG practices in listed companies.

Highlighted publications

Monitoring Study

The monitor study of listed companies has by now become a fixture in the corporate governance landscape. Since 2006, together with VBO/FEB, GUBERNA has been monitoring and evaluating various aspects of the boards of directors of listed companies, mainly in relation to the corporate governance codes to which these listed companies are subject.
Study on the remuneration of non-executive directors in Belgian listed companies

As stated in principle 7 of the 2020 Belgian Corporate Governance Code, listed companies “shall remunerate board members (and executives) fairly and responsibly”. The idea that board members should be remunerated has even been enshrined in the Belgian company law, for all types of companies, listed or not.
Study on sustainable value creation in Belgian listed companies

Read more about the study on sustainable value creation in Belgian listed companies

All publications

Origin

Type

Theme

Language

General Member Assembly 2020 - Lessons learned

Monthly Newsletter- March 2020

Consultation on gender imbalance in corporate boards in the EU

Infographic: the role of women in boards of listed companies

Position paper - Memorandum Financial Sector

Memorandum: Naar een nationale en internationale alignering van de keuzevrijheid voor bestuurs- en managementmodellen in de financiële sector.

Executive summary: Memorandum Financiële Sector

Executive Summary van het Memorandum: Naar een nationale en internationale alignering van de keuzevrijheid voor bestuurs- en managementmodellen in de financiële sector

Lees meer

Liber Amicorum Prof. Dr. Lutgart Van den Berghe

Lees meer

Usefulness and nonsense of board committees

We take a look at the origin of board committees, setting them up, populating them as well as trends and challenges for board committees.

GUBERNA Magazine 2019

Want to be kept up-to-date on what is happening in governance and at GUBERNA? Check our 3-lingual magazine.

The new Companies and Associations Code of Law is a fact!

On 28 February 2019, the Belgian Parliament approved a major modernisation of the Belgian Company and Association law.

Opinion - The strength lies in difference, not in equality

Governance practices in Belgian listed companies - end 2018

What are the governance practices in Belgian Listed Companies end 2018?

"Male, pale & stale” is dead, long live diversity!

The 'glass ceiling' is familiar to us all, as are the quota laws, because they are supposed to bring solace. For GUBERNA, however, this is not the focus. We are indeed a great advocate of more women in managerial positions and especially on boards of directors. It is not for nothing that we have been addressing this topic in our operations for a long time. The successful mentoring programme is one example of this. But gender is only one piece of the puzzle. 'Diversity' is the greater goal for GUBERNA.

GUBERNA takes a close look at the remuneration of non-executive directors

Governance practices in Belgian listed companies - end 2017

What are the governance practices in Belgian Listed Companies end 2017?

GUBERNA Magazine 2017

Want to be kept up-to-date on what is happening in governance and at GUBERNA? Check out our 3-lingual magazine.

The board’s role in designing an effective framework of corporate governance

What is the future of Stock Options in Belgium?

Corporate Governance Compliance and Monitoring Systems across the EU

This pan-European report offers an overview of the approaches adopted at national level in terms of the implementation, monitoring and enforcement of Corporate Governance Codes.

Cahier Internal Governance

With the support of Ageas, Deloitte and Laga, in 2008 GUBERNA created the Centre Internal Governance aiming to raise governance awareness at the level of corporate groups, their subsidiaries and directors.

Compliance with the Belgian Corporate Governance Code 2009 for the BEL 20, BEL Mid and BEL Small companies (annual reports 2014)

Dit rapport onderzoekt de naleving van de ‘formele’ aspecten van de Code 2009, op basis van de laatst beschikbare publieke informatie van de ondernemingen, zoals onder meer de jaarverslagen (2014), de Corporate Governance Verklaringen en de Corporate Governance Charters. Het onderzoek wordt uitgevoerd bij de 78 genoteerde ondernemingen uit de drie belangrijkste beursindices (BEL 20, BEL Mid, BEL Small).

Boards and Shareholders in European Listed Companies

The first statutory remuneration reports: second follow-up study of Study no. 38 (Study no. 42)

Highlights remuneration report - Remuneration of non-executive directors

GUBERNA (Belgian Governance and Director’s Institute) brings out this research on the remuneration of non-executive directors to provide an overview of the package and level of director remuneration in listed companies.

Services & Tools

The impact of business on people and planet is changing the way we do business. Business models and corporate strategies are therefore being reviewed and rewritten. In addition, directors need to pay more attention to human and environmental capital in addition to achieving hard financial targets. GUBERNA is ready to support directors in this and optimise their board of directors / advisory board. This with an eye on long-term success for every type of organisation.

Incompany Education

As part of its Premium offer, GUBERNA provides tailor-made in-company training for organisations in need of a flexible and personalised good governance programme. Through this customised service, GUBERNA wishes to guide your organisation in the professional development of your directors and senior management

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Remuneration benchmark board members

Would you like to benchmark the renumeration of your board members? GUBERNA supports organisations by develoing an adequate renumeration policy for non-executive board members.

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GUBERNA Board Self Evaluation Tool

The GUBERNA Board Self Evaluation Tool is a practical digital tool that allows the board of an organisation to reflect on its functioning and to identify and implement concrete action points in order to improve its board effectiveness.

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My organisation is looking for board members

We share board openings with our network for free for any type of organisation, members and non-members alike.

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Evaluation of the board of directors

We are convinced that the evaluation of the board of directors is an integral part of a continuous improvement process. By implementing an explicit evaluation moment, you actively build on the optimal functioning of the board of directors by identifying and improving weaknesses. Also the different existing national and international codes consider the evaluation of the board of directors to be a criteria for good governance.

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As a newly public company, the board of Biotalys wanted to establish a baseline for its evaluation of governance. We chose to work with Guberna. The project was very well managed and extremely helpful for the board in assessing strengths and weaknesses and setting a course for future development of its governance. We were very pleased with the outcome.

Dr. Simon E. Moroney

Chair, Biotalys