Governance and transparency
A commitment to high standards and openness
ArcelorMittal's commitment to maintaining high standards and best practices in corporate governance in terms of transparency, quality of reporting and balance of powers is essential for the Company's prosperous development.
In our view, good business practices ensure long-term business success. We want to sustain a reputation for the highest possible standards of ethics, accountability, and transparency.
This is as much about how we manage ArcelorMittal internally, as how we interact with outside stakeholders, which implies that it covers everything from our day-to-day business processes and standards, to external reporting and disclosure. Equal treatment of all shareholders, an independent board, clearly defined roles and responsibilities for directors and senior management, and ethical behaviour at all levels are of particular importance.
As the number one steel company in the world, we understand that our Leadership position brings unique responsibilities. Therefore, we should continue to implement the best standards in terms of corporate governance. Adequate controls and risk management as well as responsible and truthful financial reporting, are crucial prerequisites in further improving our position in line with best corporate governance principles.
All these aspects are an integral part of our corporate responsibility, and this section therefore explains our approach to corporate governance and business ethics, the way we manage and monitor risk and how we integrate sustainability into our supply chain.
Henk Scheffer
Company Secretary