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 financial reporting, transparency, audit, remuneration of directors, conflicts of interest and shareholder rights, traditional governance ensures that Electrolux builds value and long-term success.

An ethical framework
The Board assesses ethical risks and opportunities annually. In 2009, it discussed issues such as responsible sourcing. As well as company law, international conventions, voluntary codes of conduct and stakeholder priorities are important in shaping our governance framework.

Less is more
Sustainability at Electrolux is implemented through four key policies (see table). Electrolux is focusing on streamlining group-wide policies to ensure strong, coherent messages across the Group. Policies are approved by Group Management and are mandatory, monitored and enforced. They are communicated to provide “simplicity, clarity and understanding for employees. Implementation is achieved through clear lines of accountability.

*Responsible for developing, communicating, monitoring and enforcing

Awareness of, and compliance with, the Workplace Code of Conduct are assessed through the ALFA (Awareness-Learning-Feedback-Assessment) system and on-site audits. Internal and external audits also monitor implementation of the Environmental Policy.

A key priority is to ensure group-wide policies are communicated across the organization. Particular focus will be placed on the Code of Conduct and the Electrolux Code of Ethics, which formalizes the principles for our relations with employees, shareholders, business partners and other stakeholders. Ensuring that everyone at Electrolux upholds high social and environmental values is vital in building the trust on which our brand success depends.