Advanced Energy is firmly committed to strong and effective corporate governance practices and accountability to our shareholders.
Guided by Our Core Values
Advanced Energy is firmly committed to strong and effective corporate governance practices and accountability to our shareholders. We routinely review our governance practices against evolving best practices and consider feedback and input from our shareholders.
At all levels of our organization, we deliver extraordinary results by building a culture grounded in our Core Values. Just as our business has grown and continues to evolve, so will our culture. In 2022, we refreshed and enhanced our Core Values to ensure they are clear, aligned and truly reflect the organization we are today and strive to be in the future.
Enabling Effective Management
Our Board of Directors promotes the best interests of the company and its shareholders by overseeing the management of business, assets and affairs. To ensure that all members carry out their duties in an honest manner that adheres to all applicable laws and regulations, the Board of Directors has adopted the Director Code of Ethical Conduct.
More than 90% of our board members are independent, non-executive directors. Our Board of Directors monitors the management of the company in a way that puts shareholder interests first, fosters independent decision-making and mitigates conflicts of interest. The average tenure for our Board of Directors is 4.6 years.The pay for performance executive compensation structure ensures that our leaders focus on sustainable success as measured by total shareholder returns or other performance metrics. The executive officer compensation put forward at the last Annual General meeting received 99% approval from shareholders.
Advanced Energy is committed to transparency in all parts of our business to promote accountability, cultivate trust and foster open communication. We believe that transparency leads to improvements to our processes and policies, and ultimately contributes to our success as an organization.
In addition, we are committed to complying with all applicable tax and accounting laws and regulations in the countries in which we operate. All required filings are made accurately and within the allotted deadline with the relevant regulatory bodies.
Taking action to actively maintain an ethical and transparent environment is an important part of our culture. The company encourages the reporting of possible questionable conduct. Advanced Energy actively provides reporting options through our policies, training, posters, internal communications and announcements. Communications can be made directly to our management staff or through our third-party reporting tool at www.advancedenergy.ethicspoint.com