Corporate Performance
Corporate governance policies are regularly reviewed by the board to ensure that Vector’s responsibilities and obligations are being appropriately met.
Governance principles and practices
Vector’s board has adopted a code of practice to guide the personal performance of directors, and a set of guiding principles which are set out below:
- Vector will be a leading commercial enterprise with a reputation for delivering results through sound business strategy;
- Vector will have entrepreneurial agility, being able to identify opportunities and create successful outcomes;
- Vector will be an employer of choice which values knowledge and talent;
- Vector will deal fairly and honestly with its customers and stakeholders; and
- Vector will be a good corporate citizen.
Code of conduct
Vector’s board sets the ethical standards for the company through its published code of conduct, which sets the ethical standards intended to guide actions that are consistent with Vector’s values. These standards are expected of directors, employees and contractors of Vector and its subsidiaries.
Vector’s code of conduct covers the following areas:
- standards of behaviour – professionalism, integrity, loyalty, fairness and honesty – to behave in such a way that reflects credit on Vector;
- conflicts of interest;
- receipt and use of company information, assets, gifts and property (including intellectual property);
- delegated authorities;
- compliance with laws, regulations and rules;
- reporting concerns and protections; and
- disciplinary measures and processes.
The Code of Conduct is reviewed annually. Implementation and ongoing monitoring is the responsibility of the corporate division. There has been no serious unethical behaviour to report.
Legal and regulatory compliance
Vector’s board and management are required to:
-
conduct themselves in a manner that is consistent with all Vector policies, frameworks and processes at all times;
- comply with all applicable legislation, regulations, local authority by-laws, rules (including the NZX Listing Rules and regulations); and
- complete all statutory and internal disclosure requirements as required.