At Adama, we aspire to conduct business according to the highest standards of integrity, fairness, reliability, transparency and responsibility. We see these values as essential for long-term success, and have established them through corporate governance – a system of standards, rules and guidelines that serve as the basis for all our operations.
Our guiding principles in corporate governance are transparency and simplicity. We aim to internalize the values of Corporate Social Responsibility in our corporate culture, and to continue to persevere in disclosure and transparency.
Code of Conduct
Adama abides by the principles of corporate governance to ensure checks and balances in the conduct of its affairs.
Adama adopted a code of ethics applicable to all Company employees in Israel and abroad. The code of ethics is designed to provide simple and easily applicable guidelines for the Company and its employees' required behavior.
Among other things, the code includes rules concerning the Adama’s commitment to its employees, the employees' responsibility to the company, business ethics, community relations and responsibility for appropriate behavior.
On August 9, 2012, the board of directors ratified the adoption of a zero tolerance policy toward bribery and corruption by anyone at Adama, and an update of the Company's code of ethics.
On November 15, 2012, the board of directors ratified the adoption of an anti-trust enforcement plan, in order to integrate these laws into the company's processes.
The Board of Directors and Committees
Adama’s board of directors is currently composed of ten members – four directors appointed by ChemChina and three directors appointed by Koor. Additionally, two external directors and one independent director were appointed in February 2012.
The positions of chairman and CEO are held by two different people from among the members of the Group, and none of Adama’s employees is a member of the board of directors.
Committees of the Board of Directors include:
- Financial Statements