Compliance Compliance of the adopted corporate governance guidelines will strengthen confidence in the company and help create added value. A clear segregation of duties between shareholders, Board of directors and management has been defined based on current legislation.
In 2009, BWG Homes’ corporate governance guidelines followed the Norwegian Code of Practice for Corporate Governance of 21 October 2009.
The changes to the Companies Act §4–2 (3) and §5–11 adopted in autumn 2009 concerning the annual general meeting, were stipulated in the company’s Articles of Association in the extra-ordinary general meeting 12 February 2010 and will take effect from and including the 2010 annual general meeting.
The annual report contains descriptions of the company’s guidelines, compliance with the Norwegian Code and explanations of any deviations from it, and this information is also available on the company’s website. In accordance with the Norwegian Code of Practice, instructions have been drawn up for the Board’s work, the CEO’s work, the Board’s relationship with the auditor and the audit committee, guidelines for the nomination committee, investor relations work and ethical guidelines.
Each year the Board of directors reviews and evaluates compliance with the adopted guidelines and instructions.
Values and ethical guidelines
A healthy corporate culture and integrity throughout the company’s operations are important in building and maintaining internal and external confidence in the company and our products. With ethical guidelines and a set of internal values behind them, employees and management are better able to comply with good business practice standards. The Board of directors and employees will exhibit fairness, honesty and integrity in all its dealings with other employees, business associates, customers, suppliers, shareholders, competitors, the general public and government authorities. The ethical guidelines will also be a tool for self-evaluation and development of BWG Homes’ identity. The ethical guidelines are available on the company’s website.