The company earned its outstanding reputation for honesty, integrity and respecting and balancing our various stakeholders' interests during the first 86 years of its existence as a privately held company.
Board of directors
As chair of the company's board of directors, I am proud of the strength and effectiveness of our commitment to excellence in corporate governance at Steelcase.
The company earned its outstanding reputation for honesty, integrity and respecting and balancing our various stakeholders' interests during the first 86 years of its existence as a privately held company. Since becoming a public company in 1998, our Board has continued those traditions.
Our Board is composed of ten members, eight of whom are independent. Our directors have diverse professional and personal experience. Together with our legacy of family ownership - and the long-term perspective, insight and knowledge that brings - with that of directors with expertise in other industries, our board has a very effective and balanced perspective. The unique blend of third-generation family members and those with expertise in other business sectors has resulted in a dynamic board of curious, demanding and independent thinkers, who have an unwavering focus on achieving long-term shareholder value.
The Board's commitment to excellence and integrity in the area of corporate governance was formalized on December 18, 2002, when it adopted a written statement of Corporate Governance Principles. Those principles, along with our core values and the other components of our corporate governance program, reflect the way the company has operated since 1912. They also describe the ways in which we will meet or exceed shareholder expectations in corporate governance standards that are vital in today's world.
The key elements of our corporate governance program include the charters, governance principles, and board policies that are accessible on this site. The Board's objectives in adopting the program are to clearly reflect its commitment to:
- Nominating directors who can serve as strong, effective shareholder representatives, with experience and qualifications that significantly enhance the board's effectiveness in fulfilling its oversight and fiduciary responsibilities.
- Promoting and strengthening the relationship between directors, management, shareholders, and other stakeholders by ensuring that information is shared in transparent ways.
- Ensuring the investment of the time and effort necessary to conduct the company's business in ways that promote effective decision-making and implementation of business strategies and objectives that are consistent with the long-term interests of shareholders and other stakeholders.
The Nominating and Corporate Governance Committee leads the process of evaluation, recommendation, implementation, and measurement of compliance with corporate governance principles. The committee leads the annual board and board committees' performance self-evaluation processes and continues to search for world-class governance processes, policies and principles that will enhance the overall effectiveness of the board.
The winning combination - effective directors and established processes and principles - ensures that the fundamentals to success in corporate governance are firmly in place at Steelcase.
Robert C. Pew III
Board Chair, Steelcase Inc.