Integrated Annual Report 2014

Ethics and corporate governance

In this Chapter:
  • Approach to management

    Management systems are integral and mutually complementary elements of the business. At the LOTOS Group, it is our strong opinion that strategic business objectives cannot be met without efficient organization. In 2014, our efforts to improve management systems won recognition from the Judging Panel of the Polish Quality Award.

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  • Ethics

    The LOTOS Group’s Code of Ethics, which was put in place over two years ago, is the cornerstone of the organization’s comprehensive Ethical Conduct Programme, designed to make business ethics the highest standard in the management of our organization.

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  • Corporate supervision

    For us, corporate governance is about promoting integrity, responsibility and transparency in the relations between company owners and management staff to ensure shareholder control over the way in which their invested capital is used.

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  • The Supervisory Board

    Members of the Supervisory Board are appointed by the General Meeting. The Supervisory Board performs its duties collectively, but may also set up ad hoc or standing committees to exercise supervision of specific areas of the Company’s activities.

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  • The Board

    The Board is appointed by the Supervisory Board. It  manages the Company's affairs and represents it in relation to all its business, with the exception of matters reserved for the General Meeting or Supervisory Board, as well as matters falling outside the scope of ordinary management of the business.

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