Sustainable governance

Electrolux is founded on the principles ethics, integrity, respect, diversity, safety and sustainability. These principles are embedded into the company through an effective governance system so that the same rules apply, no matter where in the world we operate.

Board level engagement

The Electrolux Board of Directors operates in accordance with the Swedish Companies Act, the listing agreement with OMX Nordic Exchange Stockholm and other relevant Swedish and foreign laws. By addressing transparency, auditing, remuneration of directors, conflicts of interest, financial reporting and shareholder rights, traditional governance ensures that Electrolux builds value and long-term success. It also helps Electrolux to anticipate the full spectrum of business risks and opportunities – including non-financial ones – and manage them in a transparent way.

The Board assesses ethical risks and opportunities annually. As well as company law, international conventions, voluntary codes of conduct and stakeholder priorities are important in shaping our governance framework.

Governance framework

Sustainability at Electrolux is implemented through four key policies (see Codes and policies). These include the Code of Ethics, Workplace Code of Conduct, Policy against Corruption and Bribery, and Environmental Policy. Electrolux also has a series of business-related policies addressing such issues as financial reporting and disclosure as well as human resources.

We have incorporated assessment tools and third-party monitoring that allow us to gauge our performance in relation to the Environmental Policy and Workplace Code of Conduct. 2009 saw the introduction of the Workplace Standard, which clarifies and specifies the management practices required to meet the Group’s sustainability codes and policies.

An inclusive approach

We are accountable, and strive to be transparent to many stakeholders-customers, employees, shareholders and others affected by our operations. This involves sharing experience and addressing mutual concerns. Continuous dialogue with them also helps us anticipate non-financial risks and opportunities and enables us to better understand our markets and societal trends.