Board of Directors
The Board consists of five Directors and two alternate Directors and they are all elected annually at the Annual General Meeting.
The Board's work and procedures
The rules of procedure of the Board are set on the basis of Act no. 2/1995 on Public Limited Companies.
Subcommittees
Remuneration Committee
The role of the Remuneration Committee includes preparing the Company’s remuneration policy and ensuring its enforcement and negotiating with the CEO on wages and other employment terms. The role and main responsibilities of the Remuneration Committee are set out in its rules of procedure.
Audit Committee
The principal duties of the Audit Committee are to review all financial information and procedures regarding information disclosure from day-to-day management and the Company’s independent auditors and to ensure the independence of the Company’s independent auditors. The role and main responsibilities of the Audit Committee are set out in its rules of procedure.
Nomination Committee
The role of the Nomination Committee is to assist the Board with the process and oversight of Board succession planning and identification and nomination of Board candidates as well as member of the Board’s committees. The Board is responsible for the appointment and activities of the Nomination Committee and it operates under the Board’s authority. The role and main responsibilities of the Nomination Committee are set out in its rules of procedure.
Chief Executive Officer
The 'CEO is responsible for the day-to-day operations of the Company in accordance with the Board of Director’s policies and instructions, the Company’s Articles of Association, and laws and regulations. The CEO reports to the Board on the Company’s operational and financial performance at Board meetings. The CEO appoints Executive Managing Directors and leads the Executive Management Board & Delegates.
Eimskip's Chief Executive Officer is Vilhelm Már Þorsteinsson.
Corporate Governance Statement
A statement on Eimskip's corporate governance is approved at a board meeting once every year.
Code of conduct
The purpose of this Code of Conduct is to support Eimskip’s mission and vision. It applies to the Board of Directors and all employees of Eimskip and its subsidiaries and guides them in conducting the Company’s daily activities in an honest, responsible and ethical way, based on its values and generally accepted professional standards of conduct. Suppliers and subcontractors are also required to conform to high standards.