EVRY is committed to healthy corporate governance practices that will strengthen confidence in the company and thereby contribute to optimal value creation over time. The objective of corporate governance is to regulate the division of roles between shareholders, the Board of Directors and executive management more comprehensively than is required by legislation.
The Norwegian Corporate Governance Board (NCGB) has issued the Norwegian Code of Practice for Corporate Governance (the “Code of Practice”). Adherence to the Code of Practice is based on the “comply or explain” principle, which means that a company must comply with all the recommendations of the Code of Practice or explain why it has chosen an alternative approach to specific recommendations. The Oslo Stock Exchange (Oslo Børs) requires listed companies to publish an annual statement of their policy on corporate governance in accordance with the Code of Practice in force at the time.
EVRY’s principles for corporate governance are based on the following elements:
- EVRY will provide open, reliable and relevant communication to the outside world about the company’s activities and its corporate governance. EVRY’s Board of Directors will be autonomous, and independent of the company’sexecutive management.
- EVRY will pay particular attention to ensuring that there is no conflicts of interest between the interests of its shareholders, the members of its Board of Directors and its executive management. Where conflicts of interest do arise, the company will ensure that it has rules and procedures to deal with the situation in a professional manner.
- EVRY will ensure a clear division of responsibility between the Board of Directors and the executive management.
- EVRY will treat all shareholders equally