Good corporate governance is characterized by responsible interaction between the owners, the Board of Directors and its management, to develop long-term value. All stakeholders should be able to trust that a business is being run properly and that governing bodies are sufficiently independent to perform their functions.
Confidence in I.M. Skaugen and in its business activities is the most important factor to ensure its competitiveness. The directors, officers and employees must demonstrate that they aim to continually preserve the confidence of the Group. To support this work, the company has formalised a process to develop a “code of conduct” that applies for all of the employees in the group. The code of conduct will allow us to formalise the corporate values and ethical guidelines we have in place. The code covers areas that are important to secure acceptable, Group-wide business ethics. They contain specific and practical rules - and set the standards - for how anyone working for, or on behalf of, the company should proceed to meet our business objectives in today’s competitive environment.
The Board of Directors acknowledges the considerable responsibility the company has in relation to safety, security, environment and society in general, together with our responsibility towards our stakeholders.
The Corporate Governance statement, posted on our website at www.skaugen.com, outlines key principles and guidelines for the governance of I.M. Skaugen. The statement, approved by the Board of Directors, is reviewed annually or more often if deemed necessary.