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, rules and regulations, applicable EU regulations, good practice on the stock market and NASDAQ OMX Stockholm AB’s Rulebook for Issuers, based on the Swedish Corporate Governance Code (“the Code”) and applicable instructions, which are available at corporategovernanceboard.se.
In short, corporate governance aims to ensure that a company is managed in a sustainable, responsible and efficient manner in accordance with applicable legislation and regulations. The Group’s corporate governance structure and its internal regulations provide frameworks for achieving business objectives and strategies and aiming to ensure the continued strong development of the Group’s operations and, consequently, that the Group’s operations fulfill its obligations to shareholders, customers, employees, suppliers, creditors and society.
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 the Corporate Governance Report in cases where Getinge has deviated from any of these rules.