Corporate governance at the parent company Gorenje, d. d., is based on the currently effective legislation, company's internal regulations, and the Corporate Governance Code for publicly Traded Companies. According to the two-tier system of governance, the company affairs are managed by a Management Board which is in turn supervised by the Supervisory Board. Both bodies of governance shall apply the principles of mutual confidence and division and delimitation of responsibility.
Bodies of corporate governance are the following:
The Management Board shall manage company affairs independently, at own responsibility and to the benefit of the company, while reporting regularly to the Supervisory Board. Currently, the Management Board of Gorenje, d. d., consists of six members whose five-year terms shall last until July 19, 2018.
The Supervisory Board shall select, appoint, and dismiss the Management Board members. The composition of the Supervisory Board is defined in the Articles of Association of the company Gorenje, d. d., and the organization of the Supervisory Board's work is defined in the Rules of Procedure for the Supervisory Board. The Supervisory Board has 11 members. Their four-year term started on July 20, 2014.
Shareholders Assembly is the company's highest body of governance. At the assembly, company shareholders directly assert their rights as they decide on changes to the Articles of Association. The Management Board shall convene the Shareholders Assembly at least once per year.