Menu OFFICES Corporate Governance Corporate Governance Statement INVESTORS PUBLICATIONS SHARE INFORMATION KEY FIGURES CORPORATE GOVERNANCE MORE Corporate Governance is defined as the system by which companies are directed and controlled. It involves regulatory and market mechanisms and the roles and relationships between a company’s management, board, shareholders, and other stakeholders and the goals for which the company is governed. Eimskip has issued a Corporate Governance Statement that describes the accepted practices in the Corporate Governance Guidelines published by the Iceland Chamber of Commerce in cooperation with the Confederation of Icelandic Employees and Nasdaq Iceland. The purpose is to strengthen the infrastructure of Eimskip and increase transparency. Board of Directors The Board consists of five Directors and two alternate Directors and they are elected annually at the Annual General Meeting. Baldvin Thorsteinsson Chairman of the Board More Gudrún Ó. Blöndal Board Member More Lárus L. Blöndal Vice-Chairman of the Board More Margrét Gudmundsdóttir Board Member More Ólöf Hildur Pálsdóttir Board Member More Jóhanna á Bergi Alternate of the Board More Óskar Magnússon Alternate of the Board More Board Committees Audit Committee Mr. Alexander Edvardsson Mr. Lárus L. Blöndal Mrs. Ólöf Hildur Pálsdóttir Remuneration Committee Mr. Baldvin Thorsteinsson Mrs. Gudrún Ó. Blöndal Mrs. Margrét Gudmundsdóttir Nomination Committe Mrs. Gudrún Ó. Blöndal Mrs. Margrét Gudmundsdóttir Mr. Óskar Magnússon Key Executives Vilhelm Már Thorsteinsson CEO More Björn Einarsson EVP More Bragi Thór Marinósson EVP More Bödvar Örn Kristinsson EVP More Edda Rut Björnsdóttir EVP More Hilmar Pétur Valgardsson COO More María Björk Einarsdóttir CFO More David Ingi Jónsson General Councel and Compliance Officer More Hilmar Karlsson CIO More Organizational Chart Articles of Association The Articles of Association for Eimskipafélag Íslands hf., approved by the Annual General Meeting on 17 March 2016, are available both in English and Icelandic. The English version of the Articles of Association is a translation of the Icelandic original Articles of Association. The original Icelandic text is the authoritative text. Should there be discrepancy between this translation and the authoritative text, the Icelandic original prevails. Articles of Association in English Articles of Association in Icelandic Dividend Policy The policy of Eimskipafélag Íslands hf. is to pay annual dividend that equals an amount in the range of 10-65% of net profit after taxes. Decisions on dividend payment, and the exact amount, are subject to the Company’s future investment plans, market outlook and satisfactory capital structure at any given time. Approved by the Board of Directors on 23 March 2017 Code of Conduct The purpose of this Code of Conduct is to support Eimskip’s mission and vision. It applies to all board members and employees of Eimskip and its subsidiaries and guides them in conducting the Company’s daily activities in an honest, responsible and ethical way, based on its values and generally accepted professional standards of conduct. Suppliers and subcontractors are also required to conform to high standards. Code of Conduct in English Rules of Procedure Rules of Procedure have been issued for the Board of Directors as well as for the two subcommittees of the Board, the Audit Committee and the Remuneration Committee. Rules of Procedure for the Board of Directors Rules of Procedure for the Audit committee Rules of Procedure for the Remuneration committee Rules of Procedure for the Nomination committee Remuneration Policy The object of this Remuneration Policy is to make the Company a desirable workplace for competent employees and thereby secure Eimskip’s competitiveness, future development and acceptable profitability. In order to achieve this, it is imperative that the Company is in a position to offer competitive remuneration in all operational locations. Remuneration Policy in English Remuneration Policy in Icelandic Sustainability Policy Eimskip's sustainability policy was formulated in 2016 and published in 2017. The policy is based on guidelines from the Nasdaq ESG Reporting Guide, which was first published in March 2017. The company's sustainability policy is divided into three focus areas; environmental, social, and governance. More about Eimskip’s Sustainability policy IR Policy It is the policy of Eimskip to disclose financial and corporate information, providing stakeholders with timely, comprehensive and accurate information to improve the understanding of the current and expected development of the Company. 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