Corporate Governance

We believe the high standards we expect of our members must start from top management.

OUR POLICIES AND PRINCIPLES

For questions about our corporate governance activities or policies, visit the links below or contact us at [email protected].

Introduction

Wesrom believes good governance is important as it provides the framework to improve the quality of decisions made by leadership. Leadership believes good quality, ethical decision-making builds sustainable businesses and enables them to create long-term value more effectively.

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Code Of Conduct

Members of the Board of Directors shall act at all times in accordance with the requirements of the Company’s Code of Business Conduct, which shall be applicable to each Director in connection with his or her activities relating to the Company.

This obligation shall at all times include, without limitation, adherence to the Company’s policies with respect to conflicts of interest, confidentiality, protection of the Company’s assets, ethical conduct in business dealings and respect for and compliance with applicable law.

Any waiver of the requirements of the Code of Business Conduct with respect to any individual Director shall be reported to, and be subject to the approval of, the Board of Directors.

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Diversity and Inclusion

Regardless of our identity or background, we all deserve the opportunity to:

  • develop our skills and talents to our full potential,
  • work in a safe, supportive and inclusive environment,
  • be fairly rewarded and recognised for our work, and
  • have a meaningful voice on matters that affect us.

Discrimination of any person based on age, disability, race, religion, or gender is strictly against company policies. This applies whether the persons are outside of our organisation (e.g.: career applicants) or part of our organisation (e.g.: current members).

Especially in today's global economy, leadership feels this is also vital for the sustainability and growth of the company, allowing us to work with both outstanding clients and colleagues from all across the globe.

Everyone stands to benefit when we embrace and value the diversity of thoughts, ideas, and ways of working that people from different backgrounds, experiences, and identities bring to an organisation. This helps all members grow and learn, improves decision-making, and boosts engagement and innovation.

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Rewards and Compensation

Wesrom leadership consistently strives to ensure remuneration packages are created, managed, and distributed fairly and efficiently. We believe the right compensation and benefits packages ensure that hard-working members are rewarded fairly and in the most cost-effective way for the company. This in turn then motivates members to sustain their performance.

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Leadership Succession

At any point in time, Wesrom's current board is actively identifying and developing internal people with the potential to fill key business leadership positions in the company.

This includes:

  • Identifying individuals who are likely to assume leadership roles in the future,
  • Providing career tracks for high potential individuals that are separate from those for high potential leaders,
  • Accelerating the leadership development of high potentials leaders, and
  • Deliberately filling middle management positions with internal candidates.

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Management Responsibilities

The role of the Board is to approve the strategic direction of the Corporation, to guide and monitor the management of Wesrom and its Divisions in accordance with strategic plans, to instil the Company's core values, and to oversee good governance practice.

The Board aims to protect and enhance the interests of its shareholders, while laying great importance to the interests of other stakeholders, including members, customers, suppliers and the communities in which we operate.

In performing its role, the Board is committed to a high standard of corporate governance practice and to fostering a culture of compliance which values ethical behaviour, personal and corporate integrity, accountability, transparency and respect for others.

The Corporation's Managing Director is responsible for the day-to-day management of Wesrom and its Divisions, and is supported in this function by the Wesrom Leadership Team.

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Auditing and Control

The company secretary is responsible for the efficient administration of Wesrom Corporation, particularly with regard to ensuring compliance with statutory and regulatory requirements, and for ensuring that decisions of the Board of Directors are implemented. The audit committee members have responsibility to review the company’s internal financial controls and systems on a monthly basis.

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Reporting Concerns

All Wesrom members, contractors, and suppliers are urged to go outside the normal management channels to report suspected wrongdoing at work, e.g. insulting a fellow colleague or client. Wesrom leadership has direct forms of communication in place that allows any stakeholder to reach the Board directly with any and all concerns.

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Last updated by the Board of Directors in November 2018.