The Board of Directors believe that effective governance is core to operating successfully in the global business environment. Genel Energy is committed to the highest standards of corporate governance, standards which are key to maintaining both investor confidence and the integrity of the company.
This approach, coupled with our commitment to operating responsibly, supports us in maintaining the trust of our shareholders and key stakeholders, as well as providing a strong overarching structure for key decision making within the business.
The Independent Non-Executive Directors (Jim Leng, Sir Graham Hearne, George Rose, Chakib Sbiti, Mehmet Öğütçü and Simon Lockett) are responsible for monitoring management and ensuring that decisions of the board are properly checked and balanced. They have a voting majority over the Non-Independent Non-Executive Directors to ensure the strongest possible governance.
The Board has also voluntarily adopted the Model Code for share dealing contained in the Listing Rules. The Board is responsible for taking all proper and reasonable steps to ensure compliance with the Model Code.
Governance is not just a matter for the Board – a good governance culture must be fostered throughout the organisation. Our expectations of employees and those to whom we contract our business are set out in our Code of Conduct.
The Group Code of Conduct defines what Genel stands for as a company and sets out the principles that guide all of our business activities. Basic principles are to strive for operational excellence and to operate in a responsible, ethical and safe manner with the highest standards of financial reporting, corporate governance, and compliance with all applicable laws. Every officer and employee of the Group has a personal responsibility to comply with the letter and the spirit of the Code, and all personnel are encouraged to raise a concern and report any suspected or known violations of the Code without fear of retaliation.