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Strengthening public confidence towards private enterprise Göran Trogen Director General

Göran Trogen, Director General of Almega IT-Employers' Association, discusses the importance of ethics in corporate management at the Annual Meeting of the Confederation of Icelandic Employers. Topics include codes of conduct, shareholder information, board procedures, and remuneration for management. International guidelines such as the OECD Guidelines for MNEs and the UN Global Compact Initiative are also explored.

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Strengthening public confidence towards private enterprise Göran Trogen Director General

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  1. Annual meeting 2004 Confederation of Icelandic Employers Strengthening public confidence towards private enterprise Göran Trogen Director General Almega IT-Employers´ Association

  2. Confidence commissionA governmental commission • Code of conduct corporate management • Relation MD-board- AGM • Information to shareholders • Board procedures • Remuneration for management

  3. Almega´s annual meetings items • 2002 ”Corporate ethics” in general • 2003 ”Values as a management tool” • 2004 ”Everyday ethics in service companies”

  4. Ethics-trends and development • Risk and damage control-”compliance” • Supporting business – ”Ethics pays” • Ethics as an end in itself – ”Attractive employer”

  5. International guidelines • OECD Guidelines for MNEs • ILO Tripartite Declaration on MNEs • UN Global Compact Initiative • World Bank pronouncements • EU activities on “social reports”

  6. Enterprise and Society- FAQConfederation of Swedish Enterprise • How are we to define responsibility? • What are the respective roles of companies and governments? • What other interests groups are there? • How can a company tackle these issues? www.svensktnaringsliv.se/

  7. The Confederation´s initiatives • Active part in the debate • Confidence Conference March 2004 • Initiatives and information on int´l codes • Seminars, nationally and regionally • Sectoral activities – i. e. Responsible Care • Research: Relation Market- Ethics • Guidance for remuneration

  8. Confederation initiatives cont´d • Active part in the outcome of the Governmental Commission´s report/code • Active part in national bodies: Stock Exchange Committee-Securities Council and the Swedish Institute to Combat Corrupt Practices.

  9. Guidance for remuneration Guidance for remuneration of company directors and senior management personnel Main Principles 1. Transparency of information 2. Clarity of terms 3. Impartiality of decision www.svensktnaringsliv.se/

  10. Guidance for remuneration – principles • The board as a whole decides on remuneration • Fixed salary and variable components related to long or short term goal achievement-predetermined ceilings • Pensions are premium – determined not benefit related • Severance pay is limited • Detailed account in the annual report of remuneration paid • Information in the AR and at the AGM on the remuneration policy for the coming year • All share-related remuneration programmes are decided by the AGM

  11. Guidance for remuneration – General Clause The board should make a separate assessment of how outsiders might perceive the reasonableness of the remuneration system

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