Governance
The Circuit of Spa-Francorchamps is a Société anonyme de droit public (public limited company) where the main shareholder is Wallonia via “Wallonie Entreprendre”.
Its Board of Directors, nominated for a term of five years, is composed of nine directors (including the Chair, and Vice-Chair) designated by the Walloon Government; three independent directors designated by the Walloon Government; Wallonie Entreprendre is represented and nominates an additional director; and two Walloon Government Commissioners.
The Board of Directors
The Board of Directors was renewed on the 23 March 2023.
In 2023, the Board of Directors met twelves times. None of its mandates and terms of office, whether fulfilled within the Board of Directors or by its two committees, are remunerated.
The members of the Board of Directors
- Mr Melchior Wathelet, Chairperson;
- Mr Ersel Kaynak, Vice-Chair;
- Mr Thierry De Bournonville;
- Ms Sophie Delettre;
- Mr Pierre Léonard;
- Ms Emilie Massin;
- Mr Gilles Mouyard;
- Mr Thomas Rulmont;
- Mr Sébastien Durieux;
- Ms Sabrina Haquet, representing Wallonie Entreprendre;
- Mr Willy Delflys, independent director;
- Mr François Lepot, independent director;
- Mr Sabine Mahy, independent director.
Along with the Board of Directors, we also have two committees that have competence for the provision of advice and formulation of proposals and recommendations for the Board of Directors. Both committees are presided over by an independent director.
The Audit Committee
The Audit Committee has the competence to:
Communicate to the Board of Directors information on the annual statutory audit results and clarification on the manner of carrying out the statutory annual audit, and, if required, consolidated accounts that have contributed to the integrity of financial information and on the role that the Audit Committee has played in this process;
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- Monitor the process of preparing the financial information, and present recommendations or proposals so that the integrity of these can be ensured;
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- Monitor the efficiency of the internal monitoring systems and the management of risk to the organisation as well as monitor the internal audit and its efficiency;
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- Monitor the annual statutory audit results, including the monitoring of questions and recommendations formulated by the Government Commissioner.
This committee is composed of:
- Sabine Mahy, Chairperson;
- Sophie Delettre;
- Sabrina Haquet
The Human Resources & Remuneration Committee
The Human Resources & Remuneration Committee is mandated to give its view on remuneration policies and practices and to issue recommendations on individual remunerations and on any other benefits granted to the Company Directors.
This committee is composed of:
- Willy Delflys, Chairperson;
- Pierre Léonard;
- Thomas Rulmont;
- Sébastien Durieux
General Shareholders Meeting
The General Shareholders Meeting includes all shareholders of the Circuit, namely the Wallonia Region, the Province of Liège, the Town of Stavelot, the Town of Malmedy, the Town of Spa, the Town of Verviers, the German-speaking community, FTPL, RACB, FMB, RAC Spa, RAC Junior of Liège, the Union mécanisée of Spa, Santa Fe Motor Club and RMU.
Documents - General Shareholders Meeting
