Corporate governance

KONGSBERG aspires to generate value for its owners through profitable, sustainable business practices. Good corporate governance and management will ensure the greatest possible value creation, at the same time as Group resources will be used in an efficient, sustainable manner. The added value will benefit shareholders, employees and the community. KONGSBERG is listed on the Oslo Stock Exchange and is subject to Norwegian securities legislation and stock exchange regulations.  

• Read about our compliance of the Norwegian Recommendation in 2005

KONGSBERG's corporate governance model

Definition of the concept

Corporate governance deals with issues and principles linked to the distribution of roles between the governing bodies in an enterprise, and the responsibility and authority assigned to each of those bodies. Good corporate governance is characterised by responsible interaction between owners, the Board and management, in a long-term, value-adding perspective. It calls for effective collaboration between management and the Board, respect for the Group's other stakeholders, and open, honest communication with the communities in which the Group operates. 

Treatment of the topic in 2005

Issues related to corporate governance were the subject of in-depth discussions by the Group's Board of Directors in 2005 and early 2006. The Group's corporate governance documents were reviewed and revised. This included the Group's policy for corporate governance, rules of procedure for the Board of Directors and the authorisation matrix. Further, it was decided to establish two Board subcommittees, i.e. an Audit Committee and a Compensation Committee. 

• Read about our compliance of the Norwegian Recommendation in 2005