Efficient corporate governance assumes a central position in ALIGN’s efforts to create optimal value added and build confidence in its operation. ALIGN is concerned to build confidence and earn the trust of shareholders, lenders, customers, employees, authorities, and other interested parties. In order to build and maintain confidence it is decisive that the group’s board of directors and its management are independent in relation to each other. The present description of ALIGN’s corporate governance shows how the group is managed and how operations are controlled.
ALIGN is striving to materialize the visions, goals and strategies laid down by the board of directors. The work is implemented through a management and control model designed to promote good results and ensure the necessary overview and stewardship.
Central elements in ALIGN’s model for control and management are the following:
- Vision, long-term objectives and strategies form the basis of annual objectives, action plans and budgets
- Company cultures based on core values and ethical guidelines give a sought after behaviour, build confidence and a good reputation
- Clear cut responsibilities and distribution of roles between the various organizational units and group bodies
- Corporate requirements that give clear guidelines for management systems, operation and control activities of the various subsidiaries
- Management and organizational structures that ensure effective management and control of the entire operation based on dialogue, reporting and reviews/revisions of subsidiaries operation, challenges and possibilities.
ALIGN’s ethical guidelines are based on the following main elements:
- We behave in a fair, proper and decent manner
- We abide by the laws and rules that apply to our work
- We do not misuse our position to obtain personal advantages to ourselves or others
- We do not take part in corrupt and unacceptable business transactions
- We do not engage in actions aimed at harming other parties
ALIGN’s ethical guidelines will be the basis for building a good company culture and reputation.
In a time where the focus on cost savings is at its peak, we need to ensure that the safety of the installations still meets the requirements and that we still can claim to be “top of the league” regarding safety in the Petroleum sector.