As a public quoted company, Zenitel attaches a great deal of importance to ensuring that its Corporate Governance system is accessible and comprehensible. Zenitel understands that good Corporate Governance helps build value and trustworthiness, open interaction and cooperation among all; the shareholders, the Board of Directors and Core Team, as well as the company employees, customers, suppliers, creditors, public authorities and the general public. In this context, Zenitel realizes that the long-term trust of all these respective parties is a key element in its positive development.
Zenitel continuously seeks to optimize the management, administration and control of its operations and adheres to the ‘Belgian Code on Corporate Governance’ published by the Belgian Corporate Governance Committee on December 9th 2004, which has in the meantime been replaced by the Belgian Code for Corporate Governance issued on 12 March 2009, which applies to the fiscal years starting on 1 January 2009 or later. Zenitel’s board of directors has in March 2010 adopted a new corporate governance charter further aligning and updating its corporate governance structures with the changes introduced by the Belgian Code for Corporate Governance.
Regular, open and transparent communication is considered a key facet of the Zenitel corporate culture, internally within the company and externally too. This transparency shows in how Zenitel is organized, functions and how decision making takes place within the Board of Directors and the Core Team.