Section | ECONOMY | |||
---|---|---|---|---|
TOPIC | ||||
LAMDA DEVELOPMENT |
||||
Corporate Governance | ||||
The principles governing corporate governance are considered by the Management of Lamda Development to be necessary both for the control of the decisions and actions of the Management, as well as for the protection of the interests of the company's shareholders and the wider society. Lamda Development's Corporate Governance Code functions as a best practice and compliance tool with applicable legislation, promoting and improving transparency in order to add value and ultimately enhance the Company's competitiveness. The content of the Code is reviewed at regular intervals and updated according to the new data, so that it always remains up-to-date and meets the needs of each time. |
||||
Lamda Development is a business organization that communicates and interacts systematically with its interested parties, which belong either to the internal or to the external environment of the Company. In this context, the Corporate Governance model followed by the Company has as key stakeholders the partners and those bodies that have a direct impact or effect on the long-term, sustainable course and operation of the company, but are also affected by it. Specifically:
|
||||
From the establishment of the company until today |
||||
In this context, the Company's governance model has been structured to adopt practices to promote transparency and accountability, developing a framework of principles that respond to the dimensions of Sustainable Development, the analysis of opportunities, risks and qualitative/quantitative objectives for the main her activities. At the same time, practices for developing a dialogue (Stakeholder Dialogue) with all of its interested parties (Stakeholders & Shareholders) are implemented, as well as rules and procedures for the implementation of a Sustainable Development strategy and its connection with the essential issues of the Organization. Based on the above, various committees have been set up, which are manned by the senior executives of the Company. Specifically: Audit Committee: The Audit Committee aims to assist the Company's Board of Directors in its duties regarding financial information, internal control and regular audit supervision. It is the means of communication for the Board of Directors, the Internal Auditor, the statutory auditors and the company's managers in terms of accounting and financial statements, management information reports, corporate governance, risk management and the internal control system. Remuneration and Nomination Committee: The Remuneration and Nomination Committee aims to assist the Board of Directors, with regard to the general principles governing the management of the Company's human resources, in particular the policy of remuneration, benefits and incentives for its executive members of the Board of Directors, the executives and the employees, of the company, according to the conditions of the market and the economy in general. Internal Audit Service: Lamda Development's internal audit is an independent, objective, and advisory function, which adds value to the organization's internal audit system and processes. It helps achieve objectives by applying a systematic and disciplined approach to evaluating and improving the effectiveness, risk management, control mechanisms and corporate governance functions. Risk Management Committee: The purpose of the Risk Management Committee is to analyze, evaluate and manage all risks associated with the Company's business activity in Greece and abroad. The Committee formulates proposals, which it recommends to the Board of Directors. At the same time, the Company applies a series of regulations and policies that ensure its smooth operation and determine the rights and obligations of employees:
Finally, in the context of determining the essential issues related to its governance and operation, Lamda Development implemented a qualitative survey of representatives of its interested parties in order to examine all important issues related to Corporate Responsibility, as well as to systematize the dialogue with them on these matters. The methodology followed is described below:
According to the results of the research, the following are judged to be essential issues
|
||||
|
||||
Through the corporate governance model applied, Lamda Development has managed to integrate full transparency into its operations, fair treatment of shareholders, strengthening of intra-company dialogue with employees, recognition of the important issues that concern its stakeholders and ultimately an increase in competitiveness , and creating long-term value for its shareholders. At the same time, implementing a modern governance system, the Administration promotes and adopts a system of values and behaviors, with the ultimate goal of long-term and sustainable development, based on trust, honesty and continuous dialogue |
||||
Through the adopted corporate governance model, the company has managed to:
|