For Eksportfinans, corporate governance includes management processes, descriptions of roles and responsibilities, independence requirements, compensation systems and the opportunities of shareholders to exert influence and protect the interest of shareholders and other interested parties, including employees and authorities.
The Norwegian Code of Practices for Corporate Governance was launched in 2004 and has subsequently been updated. The Management and the Board periodically review the principles of corporate governance and their functionality. In November 2006 The Norwegian Code for Corporate Governance was amended with respect to risk management and internal control, principles on equal treatment of shareholders and the provisions of information in respect of take-overs. Also, the amendments comprised additional features of the nomination committee making the general meeting responsible for electing the chairperson and for approving the committee’s remuneration, as well as further clarifications for the role of the audit committee in the election of the auditor. The Board of Directors resolved to adopt these changes.
Eksportfinans’ corporate governance principles will guarantee:
- Establishment of and information about the Group's objectives, strategies and values
- Clear distribution of roles and responsibilities between different bodies and management
- Predictability and equal treatment of all shareholders
- Shareholders' contribution and influence
- Relevant, up-to-date reporting to shareholders and other interested parties
- Independent, qualified Board members
- Appropriate compensation of the Board and management
- The Board's and management's understanding and control of the group's development and operations
- Compliance with laws, rules and ethical standards
- Independent internal and external auditing
Please click here to read Eksportfinans' policy on Corporate Governance