Integrated report 2014
General Meeting of Shareholders
The General Meeting of Shareholders of KGHM Polska Miedź S.A. is the Company’s highest authority, representing a platform for presenting KGHM’s activities and achievements to its shareholders. It may be convened by the Company’s Management Board, Supervisory Board, and shareholders. The Statutes of KGHM Polska Miedź S.A. also authorise the Polish State Treasury to convene the General Meeting of Shareholders.
Supervisory Board
The Supervisory Board is the permanent supervisory body of KGHM in all of the Company’s functional areas. The duties and principles of functioning of the Supervisory Board are set forth, among others, in the Company’s Statutes and in the Supervisory Board’s Bylaws.
Management Board
The Management Board represents the Company. It manages the Company’s assets and affairs. The Management Board operates based on generally prevailing law, the Statutes of the company and the Regulations of the Management Board.
The Management Board’s responsibilities cover all aspects of the Company’s business practices. A full description of the Management Board’s responsibilities and operational procedures can be found in the Regulations of the Management Board.
Role of shareholders
Shareholder consent is required for making key decisions, including but not limited to the examination and approval of financial statements and Management Board reports on the company’s activitiesd.
GEOGRAPHIC DISTRIBUTION OF SHAREHOLDERS STRUCTURE
POLAND
52,45 %
USA
12,91 %
UNITED
KINGDOM
KINGDOM
5,66 %
UNIDENTIFIED AND OTHER COUNTRIES
29,52 %
Ethics in the Company
The Company’s value system is based on compliance with the law, integrity and caring for KGHM’s reputation. The Group highly values an atmosphere of mutual trust, and each person is treated with respect.
objective
KGHM is currently developing its Code of Ethics. Once it has been approved by the Management Board it will be implemented in 2015.
The Code will be the main tool to build a new corporate culture. KGHM’s key values are zero harm, teamwork, results-driven, accountability and courage.