According to the Corporate Governance Principles of the Organization for Economic Co-Operation and Development (OECD), which are an international benchmark, corporate governance means the system of relationships established between the Company's Management, shareholders, employees and any other interested party and aims in the creation, sustainability and development of strong and competitive businesses.
As a set of principles, the Corporate Governance Code introduces provisions for self-regulation: it is not limited to the implementation of the provisions required by law, but is based on the voluntary acceptance and application of rules recorded in it as specific practices.
Based on these provisions, the management is exercised, monitored and controlled, the corporate functions are performed, the relations with the shareholders and the interested parties (shareholders, suppliers, customers, public administration, etc.) that are interconnected with the company are formed, the achievement of the business objectives is facilitated and existing or potential risks are identified and managed.
Through the codification of the principles of corporate governance, their easy implementation is sought and at the same time the strengthening of the credibility of the Greek capital market to the international and domestic investors, the enhancement of transparency and the improvement of competitiveness of Greek companies. In addition, a framework of good corporate governance through the consolidation of trust in the business environment can bring together, in an effective and beneficial way, the interests of businesses, citizens and society.