Model for corporate governance in Getinge
The responsibility for management and control of the Getinge group is divided between the shareholders, the board of directors and its committees and the managing director in accordance with the below.
Getinge AB is a Swedish public limited company listed on NASDAQ, Stockholm. The Getinge group’s governance is, in addition to what follows from Swedish law, based on the Swedish Corporate Governance Code (the “Code”), NASDAQ OMX Stockholm AB’s Rule Book for Issuers and the Swedish Securities Council’s statements. Getinge also applies internal rules which include a code of conduct and various group wide steering documents (guidelines and policies) in a number of areas.
In short, corporate governance aims to ensure that a company is managed in a sustainable, responsible and efficient manner. A corporate governance structured around and adapted to the group’s operations is essential for commercial success and increased profitability. Good corporate governance entails a well-defined division of duties, transparency vis-à-vis the shareholders and the market and efficient governance and effective control over the group’s operations to ensure that it meets established targets, applicable legislation and other regulations and internal policies. Such governance also brings confidence in the company is maintained with existing and potential investors and other operators in the financial markets.
The Code deals with the decision-making system through which shareholders directly or indirectly govern a company and is a part of the corporate sector’s self-regulation. The Code is based on the principle of “comply or explain”. This means that a company who applies the Code may deviate from a specific rule in case that would be deemed to result in better corporate governance. However, the company must in such case describe its own solution and explain why. Getinge follows the rules of the Code and provides explanations in cases where Getinge has deviated from any of these rules.