Exel Composites is committed to exercising high standards of integrity and following ethical business principles.
Exel Composites does not tolerate bribery or corruption in any form as stated in its Code of Conduct.
Corporate responsibility governance and compliance
High standards of integrity and ethical business principles
Exel Composites is committed to exercising high standards of integrity and following ethical business principles through its corporate values, Anti-Corruption Policy and Code of Conduct. The Board of Directors is Exel Composites’ highest governance body in relation to sustainability issues and is responsible for the management of the company and governs risk management through a risk management policy. In 2020, all Board members were confirmed independent of the company and its major shareholders.
The Board of Directors makes quarterly risk assessments as part of the review and approval process of each set of business reviews, half year financial reports and annual financial statements. Risk factors are also considered in connection with any future guidance disclosed by the company. The material sustainability topics are validated by the Board of Directors and the related reporting of Exel Composites is annually reviewed alongside the publication of the company’s Annual Financial Report and signed by the Board of Directors.
Discussion and internal trainings about the company values, the Code of Conduct, and what it means to act in accordance with them, is an important element of good governance and the “OneExel” culture. New employees get to view the Code of Conduct already as part of their recruitment process and it is part of their employment contract. An anonymous and confidential “Report misconduct” channel is available at the company’s website.
Anti-corruption and bribery
Exel Composites does not tolerate bribery or corruption in any form as stated in its Code of Conduct, Supplier Code of Conduct and Anti-Corruption Policy. Any violations could constitute serious damage to Exel’s business and reputational loss, and the company follows a zero tolerance policy concerning corruption in all countries of operation. Employees are expected to report any Code of Conduct violations or observations using for example the “Report misconduct” channel.
In 2020, the company was not informed of any incidents of corruption. There were no pending legal cases regarding corruption brought against the company or its employees. The company received two Code of Conduct notifications through the “Report misconduct” channel, which were duly investigated.