As a public company, listed on the Warsaw Stock Exchange, we comply with the “Best Practice for GPW Listed Companies 2016”, effective from 1 January 2016. PKN ORLEN applies all principles included in that document.
A statement on the Company's compliance with the corporate governments recommendations and principles contained in Best Practice for GPW Listed Companies 2016
COMPLIANCE WITH THE BEST PRACTICES RULES
If any rule from the “Code of Best Practice for WSE Listed Companies” is breached by us, we publish a regulatory announcement regarding that issue.
See: Regulatory announcement no 1 CG/2013
AUDIT OF THE FINANCIAL STATEMENTS BY AUTHORISED AUDITOR
According to the “Code of Best Practice for WSE Listed Companies” we inform that on the basis of the Constitution of the Supervisory Board and Company’s Articles of Association, the Supervisory Board shall select the entity acting as the authorised auditor after taking into account the Audit Committee’s recommendations. Adopting resolution regarding selection of the authorised auditor to audit the financial statement of the Company requires approval of at least one-half of the independent members of the Supervisory Board.
Deloitte Polska spółka z ograniczoną odpowiedzialnością spółka komandytowa, headquartered in Warsaw, Jana Pawła 22 Street, 00-133 Warsaw, Poland, has been appointed as a qualified auditor of unconsolidated PKN ORLEN financial statements and consolidated financial statements of ORLEN Capital Group for years 2017 and 2018, in accordance with the decision of the Company's Supervisory Board as of 15 December 2016.
See: Regulatory announcement no 276/2016
In order to reduce the risks relating to the process of drawing up financial statements on a current basis, they are quarterly checked by an auditor, i.e. more often than required under the applicable law. The financial statements for the 1st quarter, the half-year and the 3rd quarter of the year are reviewed, whereas the annual financial statement is subject to audit.
ANNUAL REPORTS REGARDING COMPLYING OF CORPORATE GOVERNANCE RULES
In accordance with the Polish regulations on capital market and the Rules of the Warsaw Stock Exchange, every year we publish the report on PKN ORLEN compliance with corporate governance rules. This report is an appendix to the Management Board report on the operations of the Company for the certain financial year, i.e. it is a part of annual financial statement.
In PKN ORLEN issues related to diversity management are governed by the following documents applicable to the Company:
- PKN ORLEN Employment Regulation
- The core values and standards of conduct of PKN ORLEN
- Corporate Collective Labour Agreement of PKN ORLEN
- Personnel policy of the ORLEN Group for the years 2013-2017.
- CSR Strategy for PKN ORLEN (in the range of development and diversity management).
- The separate internal organizational act on the implementation of policies defining the terms and conditions of work of persons with disabilities in PKN ORLEN
- The separate internal organizational act on the introduction of the PKN ORLEN the principles of providing support to employees in emergency situations.
- The separate internal organizational act on the Family Friendly Employer project.
The targets of operations connected with diversity management are:
- equal treatment in employment and the prohibition of discrimination,
- respect for diversity,
- management of cultural differences,
- openness for recruitment of socially excluded or marginalised in the labour market,
- supporting initiatives related to labour equality practices in the company,
- remuneration and bonus policy,
- standards of employment and remuneration of delegated workers, ie. expats and inpats,
- adapting workplace to the needs of employees (e.g. people with disabilities, breastfeeding mothers)
- supporting groups in difficult life situation,
- measures to support the reconciliation of private and professional life (i.e. Work-Life Balance Programs).
In addition, diversity policy in PKN ORLEN is also implemented through the following actions:
- organisation of open training courses and workshops for employees on diversity management,
- employee volunteering,
- considering diversity aspects in HR processes and tools (e.g. recruitment, training and development, remuneration) and shaping the organisational culture,
- workshops for expats on the cultural differences management,
- conducting research among employees on job commitment and satisfaction,
- appointment of the team coordinating counteracting mobbing (Anti-mobbing Committee appointed by the Employer to consider complaints in the event of mobbing behaviour)
- appointment of the Ethics Ombudsman for reporting violations of “The core values and standards of conduct of PKN ORLEN” (also regarding discrimination and mobbing)
- appointment of Human Capital Committee that issues opinions, approves/submits for approval of PKN ORLEN Management Board and monitors the observance of “The core values and standards of conduct of PKN ORLEN”, in particular examines significant violations, takes corrective actions, issues guidelines and also considers important issues regarding ethical matters.
More information regarding corporate governance on Warsaw Stock Exchange can be found at www.gpw.pl.