As a listed company, PGNiG wants to build lasting and trust-based relationships with the Company's stakeholders, including capital providers such as shareholders and investors. The Company has implemented and applies transparent rules of corporate governance, which enable professional management of the Company, effective supervision, respect for shareholders' rights and transparent communication with the market.
The Company cares for reliable communication with stakeholders in order to guarantee equal access to information affecting its value. The Management Board of PGNiG is aware that appropriate shaping and adherence to corporate governance principles translates into effectiveness in achieving strategic goals, limiting the risk of operations and, as a result, higher market valuation of shares.
PGNiG’s main governing bodies are the Management Board, the Supervisory Board and the General Meeting. The Company has in place the Supervisory Board’s Audit Committee which monitors, among other things, the financial reporting processes and the effectiveness of the internal control, risk management and internal audit systems. The operation of these bodies is governed by the Commercial Companies Code, the Company’s Articles of Association, the Rules of Procedure for the Management Board, the Rules of Procedure for the Supervisory Board, the Rules of Procedure for the General Meeting, and the Rules of Procedure for the Supervisory Board’s Audit Committee.
As an issuer of securities admitted to trading on the Warsaw Stock Exchange, the Company applies the corporate governance standards laid down in the ‘Code of Best Practice for WSE Listed Companies 2016’. To ensure transparency of its activities, appropriate quality of its investor communications and protection of shareholder rights, the Company complies with approximately 95% of principles contained therein. In addition, the Company explains all instances of non-compliance with the adopted standards in accordance with the ‘comply or explain’ rule.
In order to meet the new requirements in terms of shaping the principles of corporate governance that in 2019 were brought by, among others, amendment to the provisions of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies, at its meeting on June 24, 2020, the Annual General Meeting of PGNiG adopted the
Remuneration Policy for Members of the Management Board and Supervisory Board of PGNiG. The amendment to the Act on Public Offering, which entered into force on November 30, 2019, introduced the obligation for the general meeting to adopt a remuneration policy for members of the management board and supervisory board of public companies at least every four years.
