|
Regulatory Compliance
|
|
Why is it material?
Regulatory Compliance aims at ensuring that the Company’s overall activity reflects high levels of corporate responsibility, forging a climate of trust between the Company and the persons or entities constituting its partners in business, including employees, customers, suppliers, consumers and shareholders, as well as the administrative and judicial authorities. In turn, the commercial position of the company is strengthened and its reputation consolidated, while allowing it to develop the requisite climate of security and trust between its business partners and other stakeholders.
|
Our approach
The Company has collected the fundamental principles and values that govern the operations and business activities of the Group’s companies in Greece and abroad into a uniform Code of Conduct, the implementation of which is mandatory both for the Group’s Management and personnel and its external associates and suppliers.
The Code of Conduct provides for the operation of a Regulatory Compliance Unit, which implements the Code of Conduct and offers advice in connection thereto, as well as investigating complaints or reports about instances of its transgression.
The different chapters of the Code of Conduct are further outlined in specific Policies: Competition Policy, Personal Data Protection Policy, and a policy related to avoiding conflicts of interests which is currently being drafted.
|
|
Our ambition
The aim of the HELLENIC PETROLEUM Group is that the activities of its companies and their business associations be governed by specific values and principles that are applied to all aspects of corporate activity, from simple, every-day issues to those that are more important and complex. These values and principles constitute a law-abiding and ethical manner of operation for the Group, towards attaining its business objectives and safeguarding its sustainability and progress.
|
|
Sustainable Development Goals (SDGs)
|
|
The term "corporate governance" describes how corporations are managed and supervised. According to the Principles of Corporate Governance drafted by the Organisation for Economic Co-operation and Development (OECD), corporate governance is a system of relationships between a Company’s Management, its Board of Directors (BoD), shareholders and other stakeholders. It is the structure whereby the goals of the company are set and pursued, the main risks it confronts in its operations are identified, the means for attaining the corporate goals are determined, the risk management system is organised, and the performance of its Management in implementing the above is monitored.
Corporate Governance Code
In compliance with the provision of para. 3(d), article 43a, Codified Law 2190/1920, added by virtue of para. 2, article 2, Law 3973/2010, which states the obligation of listed companies to file a corporate governance statement with reference to the corporate governance code they apply, the company has endorsed the Corporate Governance Code as set forth by the Hellenic Corporate Governance Council (HCGC) for Listed Companies (henceforth referred-to as the "Code") which can be accessed at the HCGC website, at http://www.helex.gr/web/guest/esed.
In addition to the HCGC website, the Code is available to all staff members via the internal corporate website and in printed form at the Group's Finance General Division and Human Resources Division. In contrast to the aforementioned mandatory provisions of the related laws, the Corporate Governance Code is a document representing the Company’s self-regulation and voluntary commitment.
Deviations from the Corporate Governance Code
The Corporate Governance Code adheres to the "comply or explain" approach and requires from listed companies that choose to implement it to publicise such an intention and either comply with all the special practices provided in the Code or explain their reasons for not complying with specific special practices. For further details, see Annual Report 2017 (https://www.helpe.gr/userfiles/8ea1f0cb-9e62-48e4-b947-a27b00fb14bb/EN_Helpe_Annual_Report_2017_Spreads.pdf), Corporate Governance chapter, p. 64-77.
Board of Directors
The company is managed by a BoD consisting of thirteen (13) members. Immediately after the end of the BoD's term, the Ordinary General Meeting of the company's shareholders must be convened to appoint new members of the BoD.
The BoD is the highest management body of the company and principally formulates the company's strategy and growth policy, and supervises and monitors the management of the company's assets. For further details, see Annual Report 2017 (https://www.helpe.gr/userfiles/8ea1f0cb-9e62-48e4-b947-a27b00fb14bb/EN_Helpe_Annual_Report_2017_Spreads.pdf), Corporate Governance chapter, pp. 64-77.