Corporate Governance
Corporate Governance Policy
Webstep ASA considers good corporate governance to be a prerequisite for value creation and trustworthiness, and for access to capital.
In order to secure strong and sustainable corporate governance, it is important that Webstep ASA ensures good and healthy business practices, reliable financial reporting and an environment of compliance with legislation and regulations across the Group.
Webstep ASA has governance documents setting out principles for how business should be conducted. These apply to all Group entities. Webstep ASA’s governance regime is approved by the board of directors of Webstep ASA.
The Company endorses and has adopted and implemented a corporate governance regime which complies with the Norwegian Code of Practice for Corporate Governance (Nw.: “Norsk anbefaling for eierstyring og selskapsledelse”), issued by the Norwegian Corporate Governance Board. Webstep ASA will follow the Code, and any deviation from the Code will be included in a statement of policy on corporate governance included in the Company’s annual report.
Articles of association
Board of Directors
Kjell Magne Leirgulen
Styreleder
Tone Lunde Bakker
Styremedlem
Bendik Nicolai Blindheim
Styremedlem
Siw Ødegaard
Styremedlem
Morten Vårdal
Styremedlem
Board Committees
Audit committee
The primary purpose of the audit committee is to act as a preparatory and advisory committee for the Board of Directors in monitoring the Group’s internal control of the risk management and financial reporting. This includes but is not limited to:
- all critical accounting policies and practices;
- quality, integrity and control of the Group’s financial statements and reports;
- compliance with legal and regulatory requirements;
- qualifications and independence of the external auditors; and
- performance of the internal audit function and external auditors.
The audit committee reports and makes recommendations to the Board of Directors, but the Board of Directors retains responsibility for implementing such recommendations.
The audit committee consists of Siw Ødegaard (chair) and Tone Lunde Bakker
Remuneration committee
The primary purpose of the remuneration committee is to assist the Board of Directors in discharging its duty relating to determining the Management’s compensation. The remuneration committee shall report and make recommendations to the Board of Directors, but the Board of Directors retains responsibility for implementing such recommendations.
The remuneration committee consists of Kjell Magne Leirgulen (chair) and Bendik Nicolai Blindheim
Merges and acquisitions committee
The objective of the committee is to act as a preparatory and advisory body in relation to the Group’s mergers and acquisitions (M&A) strategy and processes. The purpose of the M&A committee is to ensure thorough and independent preparation of matters relating to M&A.
The M&A committee consists of Kjell Magne Leirgulen (chair) and David Bjerkeli.
Nomination Committee
The Company’s articles of association provide for a nomination committee composed of two to three members. The current members of the nomination committee are Pål Kvernaas (chair), Oskar Bakkevig and Nicolay Eger. The nomination committee is responsible for nominating candidates for the election of shareholder-elected members and chairperson to the Board of Directors and for nominating members to the nomination committee, as well as making recommendations for remuneration of these.
Proposals to the nomination committee for candidates for election to the board of directors and other appointments can be sent to ir@webstep.com. The deadline for proposing candidates to be elected at the annual general meeting, is two months in advance of the annual general meeting as announced in the financial calendar.