Effective corporate governance provides the foundation for value creation, which in turn is the ultimate goal for Aker ASA (Aker). It is a prerequisite for an industrial investment company to succeed. Corporate governance is therefore a key concern for Aker’s board of directors and employees, and in the exercise of ownership in Aker’s underlying companies.
Aker believes in active ownership. Shareholders with clearly defined strategic goals for the company and who are involved through the boardroom and direct dialogue with company management, promote shareholder value. The active ownership provides direction and purpose.
Aker’s main shareholder, TRG Holding AS, is actively involved in Aker through its main owner, Kjell Inge Røkke. Similarly, Aker is closely involved in the monitoring and follow-up of companies in which Aker is the main shareholder. Aker’s management model is discussed in the Board of Directors’ Report for 2020.
Pursuant to section 3-3b of the Norwegian Accounting Act and the recommendations in the Norwegian Code of Practice for Corporate Governance, most recently revised in the autumn of 2020, the board has reviewed and updated the company’s corporate governance principles.
The individual recommendations of the Norwegian Corporate Governance Board (NUES) are discussed below. Aker’s principles are largely consistent with the recommendations.