As a company that is present in multiple countries on several continents, we see it as essential for us to make sure we conduct all of our business with integrity and openness. We have robust central internal policies and control systems and we have set high standards of transparency for our business. In each of the countries we operate in, we always follow the local laws and regulations, as well as local business standards.
Global Code of Conduct
MTG’s Code of Conduct lays out certain basic standards which we expect all of our employees to adhere to at all times. The Code contains rules to protect the interests of MTG and its stakeholders, to ensure compliance with the law and to establish MTG’s position on moral or ethical questions. It exists to ensure that we are individually accountable for conducting our business in accordance with the MTG values. The Code is communicated to our staff upon joining the company and it is available for anyone to see here.
Anti-Corruption
We believe that business decisions should be made purely for business reasons, in the interests of MTG, and not based on any favours offered by a third party. We have a policy not to offer, pay or accept bribes or substantial favours. We do not accept that employees offer or accept any gifts of benefits, directly or indirectly, from a third party unless it can be considered being within the boundaries of accepted business practices, and would not constitue a violation of laws. These policies are outlined in MTG’s Code of Conduct and Supplier Principles, and they are made known to employees, subcontractors, suppliers and customers where appropriate. It is also our policy not to participate in party politics or make any political contributions.
We conduct regular internal reviews to ensure the adherence to our anti-corruption policies and guidelines and to supplement these reviews our internal audit function carries out independent audits. The findings noted in these internal audit assignments are reported to the MTG Board of Directors and its Audit Committee on a regular basis.
Fair Competition
MTG and its employees are strongly committed to fair and open competition. We comply with all competition and anti-trust laws wherever we conduct business. Vigorous competition and the assault on and breaking up of monopolies have been some of the key elements in building the success of our companies over the years. We continue to believe that it is vital for us to keep up this competitive spirit and to do it with both openness and honesty.
Whistleblowers Policy
MTG seeks to conduct its business honestly and with integrity at all times. However, we acknowledge that all organisations face the risk of their activities going wrong from time to time, or of unknowingly harbouring malpractice. We believe that we have a duty to take appropriate measures to identify such situations and attempt to remedy them. By encouraging a culture of openness and accountability within the organisation, we believe that we can help prevent such situations from occurring. We expect all of our staff to maintain high standards in accordance with our code of conduct themselves, and also to report any malpractice that falls short of these fundamental principles. The aim of this policy is to ensure that our workers are confident that they can raise any matters of genuine concern without fear of negative reaction, in the knowledge that they will be taken seriously and that the matters will be investigated appropriately on a confidential basis. Our Whistleblowers Policy is available here.
Corporate Governance
Modern Times Group MTG AB is a Swedish public limited liability company. The Company’s governance is based on the Articles of Association, the Swedish Companies Act, the listing rules of Nasdaq OMX Stockholm, the Swedish Code of Corporate Governance, and other relevant Swedish and international laws and regulations. The Swedish Code of Corporate Governance sets requirements regarding distribution of information and control units within the company. The Annual General Meeting (AGM) of shareholders is the highest decision-making body, deciding over the composition of the Board of Directors and electing external auditors. The CEO of MTG is in charge of the day-to-day management of the Group in accordance with guidelines and instructions from the Board. More information can be found under Corporate Governance on this website.