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
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. Based on the principle of separation of powers, 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.
The Board of Directors makes quarterly risk assessments as part of the review and approval process of each set of half year financial reports, business reviews 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 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 culture at Exel. New employees get to view the Code of Conduct already as part of their recruitment process. In 2019, the corporate values continued to be enforced across the Group, and in the USA, for example, a refresher training was conducted.
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. Out of Exel’s operations, mainly China is assessed for risks related to corruption.
In 2019, the company was not informed of any incidents of corruption nor Code of Conduct violations. There were also no pending legal cases regarding corruption brought against the company or its employees.