The principles of the corporate governance affect the way corporate goals are set and achieved, monitoring systems and risk assessment procedures are adopted, as well as the way transparency is assured and Group’s competitiveness is promoted. For these reasons a fully developed and flexible corporate government model is in operation and assures:
• Respect, equal treatment and protection of the interests and rights of all stockholders.
• Transparency in decision making procedures and comply with the legislation and regulations.
• BoD satisfying the independence criteria and the dissociation of the BoD members from the management.
• Establishing of a management with clear roles and ability to balance the qualifications and experience of the executives with the requirements and the breadth of the corporate activities.
• Establishing of rewarding, compensating and evaluating systems able to attract and retain people with the competencies and skills required to achieve the set by the shareholders efficiency.
• Satisfaction of the requirement for information announcement concerning the operational and financial transactions, timely and adequately.
• Sensitization in issues related to social responsibility.
According to the rules on corporate governance, the primary obligation and duty of the members of the Company’s Board of Directors is to constantly pursue the strengthening of the company’s long-term economic value and efficiency and the promotion of its general interests.
The Board of Directors protects the interests of shareholders and makes decisions in the context of the applicable legislation and by laws, taking into account the greater public interest.
The Board of Directors is the supreme administrative body of the Company and is elected by its Shareholders’ Meeting.
Kulla Exim is wholly privately owned and is not listed in any stock exchange.