The company’s Board of Directors adheres to the most recent version of the Guidelines on Corporate Governance, issued by the Iceland Chamber of Commerce, the OMX Nordic Exchange in Iceland, and the Confederation of Icelandic Employers in June 2009. During the year, an Auditing Committee was appointed in accordance with rules of procedure.
The objectives of the Guidelines include the following:
- Promoting sound corporate governance practises in Iceland.
- Enabling board members and company managers to fulfil their responsibilities, thereby enabling them to promote the growth and success of the companies they are entrusted with managing.
- Enhancing trust in companies and business activities in general.
- Fostering trust between investors and managers.
- Bolstering the competitive position of the Icelandic economy by bringing Icelandic corporate governance into line with prevailing practises in neighbouring countries.
- Building investors’ awareness of Icelandic corporate governance practise when they evaluate their investment options.
- Facilitating domestic firms’ access to capital in Iceland and abroad.