Corporate Governance in NIBE Industrier AB is performed by the Annual General Meeting, the Board of Directors and the Managing Director/CEO in accordance with the Swedish Companies Act.
According to the Companies Act, the Annual General Meeting is the highest decision-making body of a limited company. The Annual General Meeting makes the overall decisions on the company's operations, such as changes in the articles of association and appoints the Board of Directors and auditors.
NIBE Industrier AB’s Annual General Meeting, will be held on Thursday May 14 2020 at 5.00 p.m., Sparbankshallen, Ola Mårtens väg 8, in Markaryd.
To keep the number of people in Sparbankshallen down, we have begun preparations to use more halls at the same time if necessary. The halls will be connected via digital link so that everyone can attend the AGM as usual. There will also be an opportunity to ask questions.
No food or coffee will be served at the AGM. Also, no factory tours or exhibitions will be arranged.
Shareholders always have the option of using a proxy to vote for them if the shareholder is not able to attend the meeting. We are currently reviewing what we can do to make it easier for shareholders who wish to vote via proxy. We will post more information on our website as soon as possible.
Here will the AGM documents be publised.
Shareholders who wish to have a matter addressed at the Annual General Meeting may submit their proposals to THE BOARD OF DIRECTORS by ordinary mail or e-mail to the following address:
NIBE Industrier AB
285 21 Markaryd
e-post; [email protected]om
Proposals have to be received by the company no later than Friday March 27 2020, in order for the company to have sufficient time to include them in the notice and the agenda of the Annual General Meeting.
It is the responsibility of the highest governance body of NIBE to embed sustainability into the core of our business by formulating mission, vision and strategy that clearly states what we want to achieve.
Our Business Strategy consists of a range of important statements that are directly linked to sustainable development. These statements have been extracted and highlighted in our Sustainability Strategy, which in turn is the basis for our sustainability targets and action plans within NIBE.
The responsibility for carrying out action plans and reaching targets lies within each business area, where the Business Area Manager is responsible and reports to the CEO. To their support they have the central Sustainability Team, managed by the Chief Sustainability Officer who is reporting to CEO, local coordinators and the Sustainability Council.
NIBE follows global management systems to monitor quality, environmental issues and saftey
The quality and environmental management is structured according to the standards ISO 9001 and ISO 14001. Today is 98% of our companies certified, and our target is that all sites shall be certified by the end of 2016. In the future, if newly acquired sites are not certified, we will allow two years to develop a certified management system at the site.
We assess our risks systematically and take proactive approach concerning trends and potential changes in pricing, legislation or the market. Internal operational risks are controlled by management systems and control procedures. A new Risk Management system was launched in 2015 which will increase the accuracy and overview of our analyses and actions.
Local companies around the globe are responsible for assessing and monitoring their sustainability risks. Risk assessment including aspects like changing legal demands, changes in customer requirements, climate change, and access to raw materials, as well as environmental impact, and health and safety are carried out on a regular basis. Local boards are responsible for reporting identified risks and action plans to Business Area Managers, and in some cases to NIBE’s board.
NIBE’s sustainability team visits the local production companies at least every third year in order to check compliance and make sure that NIBE’s values and business principles are adhered to.
As an additional support and an important way of communicating sustainability issues internally, NIBE has a Sustainability Council, led by the CEO that meets 2-3 times a year to discuss decisions, focus areas, changes in the global scene, risks and opportunities, and to follow up on performance. The Sustainability Council consists of the CEO, CFO, Chief Sustainability Officer, Sustainability Controller and the Business Area Managers. Moreover, the Chief Sustainability Officer takes part in the yearly strategy meeting together with Group management and the Board of Directors.
Business Area Managers are responsible within their units, for following the strategy set out by the Board of Directors. Ultimately, however, it is the highest governance body that is accountable for the sustainability performance.
To make sure we follow legislation and work in an effective way, NIBE has managements systems in place for risk management, quality, environment and occupational health and safety. There is also a system in place to evaluate suppliers from a sustainability perspective.
NIBE is a signee of UN Global Compact since 2014. We are committed to following the 10 principles and to promote these principles within our sphere of influence. Our core values are expressed in eight fundamental building blocks that guide our decisions and business behaviour in all situations. We expect our Suppliers to embrace the same set of internationally accepted principles and apply them in all their business conduct.
We expect reliable and honest co-operation based on mutual trust and respect. Suppliers must follow legislation and internationally agreed principles as expressed in for example UN Global Compacts 10 principles and the ETI Base Code. We expect that promises are kept and that problems are discussed with a solution oriented, open mind. We expect our suppliers to give us feedback that can help us to develop to a better customer.
Compliance towards our policies is regularly checked by conducting internal audits. We also have grievance mechanisms and a whistle blower function in order to get instant feedback if something is not working the way it should.
NIBE wants to support global work for efficient businesses and high business ethics. We are a signatory to UN Global Compact, international principles for responsible businesses.
From 2018 the Sustainability report is included in the Annual report.