Corporate governance is a set of principles and rules of conduct to be followed both by the companies’ governing bodies and the groups of stakeholders engaged in a company’s functioning: shareholders, employees, customers, suppliers. The principles of corporate governance refer to broadly understood managing a company. The history of corporate governance rules in Poland goes back to the year 2001, when the Best Practices Committee was appointed. The first Polish corporate governance rules were developed by the Best Practices Committee consisting of representatives of various communities related to the capital market, and published in the document ‘Best Practices in Public Companies 2002’. Since then, the document has been updated several times.
It is not mandatory for all listed companies to implement the principles of “Best Practice for GPW Listed Companies 2016” applicable since 1 January 2016, the companies should rather follow the “comply or explain” principle which means that the company should declare which principles it intends to observe and in the case of departures it should disclose the reasons for such departures.
The conduct of ELEKTROBUDOWA SA in this respect is regularly appreciated by the market – every year since 2009 the Company is included in RESPECT Index – an index of socially responsible companies which carry out their activity basing on the best standards of information policy, investor relations, social relations and environmental protection.
Pursuant to applicable information requirements, following the “comply or explain” principle, each instance of non-compliance with the principles defined in “Best Practice for GPW Listed Companies 2016”, permanent or incidental, is reported by the Company. Reports concerning the corporate governance principles are disclosed through the EBI system and published on the Company’s website.
Site managed by InCMS