Corporate governance is based on principles such as conducting the business with all
integrity and fairness, and being transparent with regard to all transactions. It makes all the
necessary disclosures and decisions, thereby complying with all the laws of the land,
accountability and responsibility towards the stakeholders and commitment to
conducting business in an ethical manner. It describes the ways in which rights and
responsibilities are distributed among the various corporate bodies according to
applicable laws, rules and processes. It creates a secure and prosperous operating
environment and improving operational performance. Corporate governance also defines
the decision-making systems and structure through which owners directly or indirectly
control a company.
The MSAI Company's business is conducted by its employees, managers and corporate officers led by the chief executive officer, with oversight from the Board of Directors. The Board's Governance, Organization and Nominating Committee periodically reviews the Company's corporate governance principles and current practices.
The Board and the corporate officers recognize that the long-term interests of the company are advanced when they are responsive to the concerns of communities, customers, employees, public officials, shareholders and suppliers. Additionally, the Board has adopted a Code of Ethical Business Conduct to focus the Board and each Director on areas of ethical risk, provide guidance to help them continue to effectively recognize and deal with ethical issues, enhance existing mechanisms to continue the reporting of unethical conduct, and help to continue to foster and sustain a culture of honesty and accountability.
|
