Overview of Governance

Good corporate governance is critical to the long term, sustainable success of Fortescue. Good governance is embedded throughout Fortescue and is the collective responsibility of the Board of Directors and all levels of management. 

 

Corporate Governance (1000x438)

 

 

Fortescue seeks to adopt leading practice, contemporary governance standards and apply these in a manner consistent with its culture and Values.

The Company supports the intent of the ASX Corporate Governance Council Principles and Recommendations 3rd Edition (Principles and Recommendations) and meets the specific requirements of the Principles and Recommendations, unless otherwise disclosed. The cornerstone principles of corporate governance at Fortescue are:

Transparency: Being clear and unambiguous about the Company’s structure, operations and performance, both externally and internally, and maintaining a genuine dialogue with, and providing insight to stakeholders and the market generally.

Integrity: Developing and maintaining a corporate culture committed to ethical behaviour and compliance with the law.

Empowerment: Everyone at Fortescue is empowered to make decisions that support the organisation’s objectives and are in the best interests of stakeholders. Management and staff are encouraged to be innovative and strategic in making decisions that align with Fortescue’s risk appetite and are undertaken in a manner consistent with corporate expectations and standards.

Corporate accountability: Ensuring that there is clarity of decision making within the Company, with processes in place to ensure the right people have authorised approval to make effective and efficient decisions, with appropriate consequences delivered for failures to follow those processes.

Stewardship: Developing and maintaining a Company-wide recognition that Fortescue is managed for the benefit of its shareholders, taking into account the interests of other stakeholders.

Governance Framework