Governance

The Board of Directors plays a valued and positive role in shaping strategy, policy, and the function of the management team. Chosen by a majority vote of shareholders, the Board consists of independent Directors, executives, institutional investors, and shareholders’ representatives. The Board meets Quarterly to share their extensive leadership experience on core strategic aspirations and assess key performance indicators, collectively leading the corporation to sustainable success.

 

The composition of the Board of Directors matches the company’s required skills concerning experience, understanding of manufacturing, distribution and Sales, financial expertise, and the company’s strategic aspirations.

 

The Board of Directors undergoes an annual self-evaluation the term of the Board is renewed every three years.

 

As part of our code of ethics procedure, the Board follows all conflict of interest and insider trading principles. Board Directors submit an annual disclosure form detailing ownerships and board membership in other companies. Directors who may have a conflict of interest concerning a board decision are not permitted to vote nor attend the discussion process.

 

The Board has an effective Audit Committee that has a strategic priority to lead the effective oversight of operations, risk management process and implementation of internal controls.

In 2021, we set a strategic priority to develop a compliance program. In doing so, we focus on the consistent actions required to prevent areas of risk, ensure our internal procedures are aligned to applicable laws and regulations and lead a firm commitment to embed rules that enhance an ethical culture.

As part of our compliance program, we have adopted a new code of conduct. This details our procedures and systems that ensure the company’s practices are in-line with international agreements, national laws, and regulations.

A new employee awareness campaign details all areas of the compliance program. The campaign provides training on company expectations and the procedures to follow on discrimination, conflicts of interest, insider trading, using business assets and information, fair dealings with employees, commercial partners, government authorities, and contact with the media and clients.

 

In addition, employees supply written compliance statements confirming their adherence to non-conflict and data privacy policies. They also complete compliance assessments to reaffirm a commitment to applicable laws and regulations. These allow early detection of red flags and indicate corrective measures to be taken.

Our continued commitment to revise policies and procedures will ensure clarity and efficiency. The appointment of compliance experts furthers our investments, improvements, and best practice. So far, this has led to the revamp of more agile standard operating procedures (SoPs).