PNC Bank 2002 Annual Report Download - page 9

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Q: How have you strength-
ened corporate governance?
Q: How do you
measure success?
A: We’ve made a number of
enhancements. Let me begin
with our board of directors
structure. Our board adopted
written governance principles.
We reviewed and updated all
committee charters. An out-
side director chairs each of
our committees and we’ve
added new directors with spe-
cific financial services industry
knowledge. Our goal is not
simply to comply with the
new legal and regulatory
requirements that govern
companies listed on the New
York Stock Exchange ...our
goal is to become a company
with best-in-class corporate
governance practices.
From an employee
perspective, we implemented
a strengthened Code of Ethics
and adopted a Statement of
Principles. To help ensure
that they are understood
and followed, all 24,000
employees — beginning with
me — are taking an online
ethics training course.
We also appointed a cor-
porate ombudsman to provide
employees with an additional
avenue to report possible
ethics violations.
— Rohr
A: We measure our success by
the value we create for all of
our stakeholders: shareholders,
customers, employees, and
the communities we serve.
We have embedded in our
culture a commitment to
these constituencies — all of
which are intertwined and
very important.
Our plans, our decisions,
and our strategies are evaluat-
ed based on the impact they
will have on our stakeholders.
We want to make money in a
way that helps our customers,
strengthens our communities,
and makes our employees
proud. We know that
approach is great for the
bottom line…and even
better for the soul.
— Guyaux
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