Corporate governance refers to a number of principles adopted by a company, aiming to uphold its performance and the interests of its shareholders and all stakeholders.
Recognizing the importance of corporate governance principles and the benefits derived from their adoption, we follow international practice and standards in this area and opt for the systematic implementation of these principles throughout its operations.
We comply with the special practices defined by the Hellenic Federation of Enterprises (SEV) Corporate Governance Code for Listed Companies, as currently in force as the Hellenic Corporate Governance Code, following its revision/amendment by the Hellenic Corporate Governance Council in October 2013.
More precisely, as a large capitalization company, listed on the Athens and London Stock Exchanges, we comply with applicable domestic and international corporate governance legislation, incorporating regulations and compliance practices within its operations. At the same time, aiming to uphold transparency, efficient management and optimal operational performance, we follow practices which are not required by law but allow for company's adherence to best practices.
All relevant provisions and practices are incorporated in the company's Articles of Incorporation, Internal Operations Regulation, the Code of Conduct of OTE Group, the Internal Personnel Regulation and other company by-laws regulating its operations
Fundamental Principles of the Corporate Governance System
The fundamental principles the corporate governance system involve the following:
· Two-way communication between company stakeholders and company's Management
· Transparency and control over management
· Assurance of operational efficiency
We apply corporate governance regulations and practices on the basis of three key priorities which include definition of the role of the Board of Directors, executive members, the control and protection of shareholder rights and the improvement of transparency and information disclosure.