CORPORATE GOVERNANCE AT KONGSBERG
KONGSBERG aspires to protect and enhance shareholders' investments through profitable, sustainable business activities. Good corporate governance is intended to maximise added value and decrease business risk, at the same time as the Group's resources are to be utilised in an efficient, sustainable manner. The value added should 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.
Definition of the concept
The Group's value platform and corporate Code of Ethics are basic premises for KONGSBERG's corporate governance. Corporate governance deals with issues and principles attached to the distribution of roles between the governing bodies in an enterprise, and the responsibility and authority assigned to each body. Good corporate governance is distinguished by responsible teamwork between owners, the Board of Directors and management in a long-term, productive and sustainable perspective. It calls for effective cooperation, a defined division of responsibilities and roles between shareholders, the Board of Directors and management, respect for the Group's other stakeholders and open, honest communication with the communities in which the Group operates.
Treatment of the topic in 2007
The topic of corporate governance is subject to annual reviews and discussions by the corporate Board of Directors. Among other things, the Group's governance documents are reviewed and revised annually and the text for this chapter of the annual report is thoroughly reviewed.
Corporate governance at KONGSBERG
