Risk Management Is an Integral Part of Corporate Management
Risk management is an integral part of corporate management at WACKER. As a globally active company, WACKER is exposed to numerous risks directly attributable to our operational activities. Starting from an acceptable level of overall risk, the Executive Board decides which risks we should take to utilize the opportunities available to us. The goal of risk management at WACKER is to identify risks as early as possible, to evaluate them appropriately, and – if necessary – to eliminate them using suitable measures.
As a specialty-chemical and semiconductor company, we have a particular responsibility to ensure plant safety and to protect health and the environment. This is why all our production sites have coordinators who manage plant and workplace safety, alongside health and environmental protection. Our risk management complies with legal requirements and is a component in all our decisions and business processes. The Executive and Supervisory Boards are regularly informed about the current risk status in the Group and at each business division.
WACKER focuses on identifying, evaluating, managing and monitoring risks as part of a transparent risk management and control system for all company processes. The system is based on a defined risk strategy and an efficient reporting procedure. The Executive Board regularly reviews and enhances our risk strategy, particularly with regard to our groupwide processes for strategic planning and reporting. The Executive Board regularly keeps the Supervisory Board’s Audit Committee abreast of existing risks.
All corporate levels are included in risk management. It consists of three intermeshed aspects:
Divisional-specific risk management, including early-warning systems
Groupwide risk coverage
Groupwide risk mapping