Intentional governance for sustainable profitable growth
The 2018 Code of Corporate Governance (the Code) is applicable to the Company for its 2018 Annual Report – the Governance Report. Olam complies with most of the principles and provisions of the Code. Today, the Board comprises more than 50% independent directors with the Board Chair being independent since 2015. With the optimal mix of expertise and experience, the Board is equipped to effectively lead and direct the Company’s business and strategy, ensuring the long-term success of the Company.
Olam recognises that a well-governed company involves putting in place good corporate governance practices that will ensure the Company’s long-term success. The Company focuses on governing purposefully, keeping in mind the Code while continuing to deliver on the Company’s vision and objectives. In keeping with this objective, actions taken by the Company to address differences between the Code and the Company’s practices have been explained in this Governance Report.
Olam believes in a diverse and inclusive community. The Company is committed to a culture that embraces the views of individuals from all backgrounds, experiences, knowledge, skill-sets and abilities, which are essential to creating a thriving and innovative community that will positively impact our people and our stakeholders. The Board recognises the importance of diversity, which will lead the way for the Company to thrive in a varied and collaborative culture. At the Board level, it is essential to demonstrate diversity through having an optimal mix of expertise and experience in the boardroom.
Read more about our Board Diversity Policy.
Adopted in April 2018 by our shareholders, Olam’s new Constitution is largely comprised of the provisions of the Company’s existing memorandum and articles of association, as updated to incorporate various changes, primarily to give effect to the changes to the Companies Act introduced by the Amendments Act, as well as for consistency with all the SGX-ST Listing Rules.