During my online journeys I’ve visited some interesting Corporate Governance sites. I found that too often I make quick judgments and that I need to take more time to assess the attributes of a visited site.
This was put in play when I observed the Corporate Governance page of Li & Fung Ltd an export trading company that manages supply chains. My immediate reaction was somewhat negative since the design wasn’t glitzy —
Also, as indicated in this visual, I found that the topline navigation was the beginning of a very long page.
However, then I looked further and found out just how much information was available. First, just look at the menu–
- The Board
- Board Committees
- Remuneration Policy for Executive Directors
- Remuneration Policy for Non-Executive Directors
- Internal Control and Risk Management
- Code of Conduct and Business Ethics
- Market Recognition
- Directors’ and Relevant Employees’ Securities Transactions
- Directors’ and Senior Management Interests
- Directors’ Responsibility for Accounts and Auditor’s Responsibility
- Compliance with the Code on Corporate Governance Practices
- Investor Relations and Communications
- Shareholders’ Rights
- Corporate Social Responsibility and Sustainability
- Corporate Communications
- People and Community
- Information Technology
This is one of the most comprehensive list of Corporate Governance topics I have seen. It is a good indicator of the company’s transparency. Some observations…
An effective use of visuals to explain Board composition, Risk Management and Board meetings
An outline of internal communications
Senior executives also travel frequently to different country offices to reinforce staff commitment to Li & Fung’s business culture and the Group’s established corporate initiatives. Under the supervision of our Group Chief Compliance Officer, members of the Corporate Compliance Group conduct regular interactive forums with staff members in Hong Kong and overseas to ensure that good corporate governance and company practices are reinforced and embedded in the Group’s operations.
Commitment to Ethics
The Group’s reputation capital is built on its long-established standards of ethics in conducting business. Guidelines of the Group’s core business ethical practices as endorsed by the Board are set out in the Company’s Code of Conduct and Business Ethics for all Directors and staff. All the newly-joined staff are briefed and requested to acknowledge the understanding of the Code. For ease of reference and as a constant reminder, a copy of the latest guidelines is posted in the Company’s internal electronic portal for reference by all staff.
A visual outlining awards won in various categories such as Corporate Governance, Best Managed and Top Companies
All of Corporate Governance on one page, yes, but a page packed with information depicting corporate transparency.
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