Marel unity

Governance documents

We believe strong corporate governance supports the long-term interests of Marel's people, shareholders and operations around the world. The documents on this page outline our corporate governance principles and practices.

Marel is a dedicated and diverse team of about 6,300 people in over 30 countries. We are at the forefront of our industry. Our corporate governance framework reflects our commitment to excellence in everything we do.

Communication with shareholders

Shareholders’ meetings, within the limits established by the company’s Articles of Association and statutory law, are the supreme authority in Marel’s affairs as well as the primary means of communication between shareholders and the Board of Directors.

The AGM is held each year before the end of August and other shareholders’ meetings are convened when necessary. The AGM is advertised publicly with at least three weeks’ notice in accordance with Icelandic law.

The Chairman is the Board’s authorized spokesperson. The Board of Directors does not engage in communication regarding details of the company’s operational matters and financial results, which is the responsibility of authorized members of management.

The Chairman communicates with the company’s largest shareholders on an annual basis to exchange views on matters related to corporate governance, and to maintain trust and understanding. All communication with shareholders is governed by rules and regulations on price-sensitive and non-public information (insider information) and on other sensitive business information which could compromise the company’s competitive position.

Articles of association

Articles of association of Marel hf, dated 20 March 2020. Please find both the official (Icelandic) and unofficial translation (English) of the original document. In the event of any discrepancies, the Icelandic version prevails.

Articles of association in English PDF (5.4MB)
Articles of association in Icelandic PDF (4.8MB)

Code of conduct

Marel‘s vision is of a world where quality food is produced sustainably and affordably. This vision is reflected in our business model, which is based on the knowledge and talent of our employees, and driven by innovation, market penetration and operational excellence. The purpose of this code of conduct is to support that vision. It expresses who we are, and what we can expect from each other and our partners.

Code of conduct PDF (1.0MB)

Rules of procedure

Marel issues rules of procedures for the board of directors and its subcommittees, as well as for insider trading. Download the rules below.

Board of directors PDF (5.5MB)
Audit committee PDF (0.2MB)
Nomination committee PDF (0.1MB)
Remuneration committee PDF (1.4MB)
Treatment of insider information PDF (0.5MB)

Policies

Our policies guide and govern how we conduct our operation, how we engage with customers and potential customers, how we work with colleagues, and how we work with society in general. These policies apply to all Marel employees, with no exceptions.

Policy Overview Document
Anti-bribery and anti-corruption policy We know that our company’s reputation is crucial to our success. Therefore, we take compliance with global anti-bribery and anti-corruption laws and regulations very seriously. The anti-bribery and anti-corruption policy adopted by Marel in January 2017 reinforces our commitment. The policy applies to all employees, officers, and directors as well as any contractors, consultants, agents, and other business partners engaged in business on behalf of Marel. As an international company, we adhere to the anti-bribery and anti-corruption laws of all the countries in which we operate. PDF
Diversity policy A global diversity and inclusion policy was adopted by the board of directors in 2017 and has been in force since 2018. Its objective is to ensure diversity and inclusion within Marel as well as increasing job satisfaction and general wellbeing in the workplace. We aim to make sure that employees are not discriminated against on the grounds of their gender, beliefs, nationality, race, sexual orientation, religion, color, personal finances, family, age or on any other grounds. PDF
Global health, safety and environmental (HSE) policy Providing a healthy and safe working environment for all of our employees, contractors, and visitors working in Marel facilities is the right thing to do and we take pride in doing it well. Health, safety, and the environment concern all of us and we do our utmost to make sure our employees have the necessary competence, tools, and instructions to perform their work professionally and safely. PDF
Investor relations policy Providing investors with equal access to timely and accurate information about Marel’s operations and business environment is the central aim of our investor relations policy. The policy is based on Marel’s values of unity, excellence and innovation. PDF
Remuneration policy Our remuneration policy reflects the objectives of robust governance, as well as our sustained, long-term approach to value creation for Marel’s shareholders. The policy is designed to attract, motivate and retain exceptional employees in a competitive and international market. PDF
Sanctions policy Marel is required to comply with laws imposing trade and financial restrictions on dealings with certain countries,
entities and individuals. This Policy sets out requirements and procedures designed to promote compliance with
sanctions laws.
PDF
Charitable giving and social participation policy Marel’s charitable giving and social participation guidelines align with our pledge of corporate social responsibility. Our guidelines are designed to support the company in being the partner, neighbor, employer, customer and supplier of choice around the world. PDF
Tax policy (UK) Our direct contribution to taxation in the UK economy spans corporate, employment, property and insurance premium taxes, as well as some minor other taxes. PDF
Corporate governance statement Icelandic law and the company's corporate governance framework determine the duties of the various bodies within the company. They define and dictate how the company is governed and controlled. Marel's corporate governance statement is updated annually. PDF
Corporate social responsibility approach Marel's guiding principles in regard to corporate social responsibility. PDF

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