Improving corporate governance at F4E

Strategy, corporate accountability and better coordination among the different stakeholders are some of the main characteristics of the new modus operandi of F4E, the organization responsible for Europe's contribution to ITER.

The Governing Board of the European Domestic Agency for ITER (F4E) recently adopted a package of measures to improve the organization's corporate governance and accountability in response to the conclusions of the July 2010 Council of the European Union.

 

The Governing Board also decided to revise the financial rules of F4E and involve the European Commission's Internal Audit Service. A new team of chairs and vice-chairs for F4E's Governing Board and its subsidiary committees was also appointed.

One of the main aims of the new measures is to allow the F4E Governing Board to focus more on supervising the organization's overall strategy and reinforcing corporate accountability. At the same time, the role of the F4E Executive Committee has been strengthened to offer early advice on procurement strategies.

 

The creation of the Administration and Finance Committee, as well as the involvement of the European Commission's Internal Audit Service, are measures intended to guarantee a better execution of tasks. A new committee, known as the "Bureau", will be set up to enhance coordination between the Governing Board and its subsidiary committees.

 

Finally, following the request of the Council of the European Union, the publication of a call for an annual independent assessment of F4E has already been launched.

The meeting also marked the departure of three chairs who reached the end of their four-year mandates and whose contribution has been instrumental in setting up F4E: Carlos Varandas, Chair of the Governing Board; Quang Tran, Chair of the Technical Advisory Panel; and Karl Tichmann, Chair of the Executive Committee.

The newly appointed chairs are: Stuart Ward, Chair of the Governing Board; Cor Katerberg, Chair of the Administration and Finance Committee and Vice-Chair of the Governing Board; Joaquin Sanchez, Chair of the TAP and Vice-Chair of the Governing Board; Beatrix Vierkorn-Rudolph, Chair of the Audit Committee; and Lisbeth Grønberg, Chair of the Executive Committee.

 

The next meeting of the Governing Board will take place on 24-25 November.