Company: GEF
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0000043920-25-000004
Chunk: 23

Company: GREIF, INC
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 23
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 the Company or to Vestis Corporation (less than $15,000), and the nature of the relationship has been properly disclosed to the Board.

| Board’s Role in Risk Management Oversight |

The Board takes an active role in the oversight of our most significant risks. The Board executes its risk oversight function at the Board level and through delegation to its Board committees. The Board does not view risk in isolation. Risks are considered in virtually every business decision and as part of our business strategy. The Board recognizes it is neither possible nor prudent to eliminate all risk. Purposeful and appropriate risk-taking is essential for us to be competitive and to achieve our long-term strategic objectives.

While the Board and its committees oversee risk management, management is responsible for day-to-day management of the various enterprise risks facing the Company. Management has developed and administers a formal enterprise risk management program that is a Company-wide effort involving both the Board and management. Management’s role is to identify, mitigate, guide and review the efforts of our business units with respect to risk, consider whether various risks are acceptable, and approve plans to deal with critical business risks that could prevent achievement of our business goals or plans. The Board receives detailed management reports that assess the material risk to us, including strategic, operational, financial, infrastructure, legal, regulatory, cybersecurity and other external risks facing the Company and to ensure that management develops and maintains comprehensive risk management policies and procedures to assess, mitigate and monitor those risks. The risk oversight responsibilities of the Board and its committees are summarized below:

| Board of Directors                                                                                                              |     | Audit Committee                                                                                                          |     | Compensation Committee                                                                                                        |     | Nominating Committee                                                                                                                                                    |
| Oversees our risk management processes to support the achievement of our long-term strategic objectives                         
 Delegates certain risk management oversight responsibilities to its committees and receives regular reports from each committee |     | Oversees risks related to financial statements, financial reporting and disclosure process, accounting and legal matters 
 Oversees the internal audit function                                                                                     
 Oversees the enterprise risk management program and cyber risk exposures                                                 
 Oversees risk related to the integrity of our internal controls process                                                  
 Reviews related party transactions                                                                                       |     | Oversees the risks related to the design and structure of our compensation and benefits program                               
 Reviews incentive compensation arrangements to confirm incentive pay does not encourage unnecessary and excessive risk taking |     | Oversees risks associated with corporate governance policies and procedures and Board performance                                                                       
 Oversees risks associated with Board composition and committee structure                                                                                                
 Monitors and reviews emergent environmental, social and