Unilever 2014 Annual Report Download - page 11
Download and view the complete annual report
Please find page 11 of the 2014 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Employee Involvement and ommuncaton Unlever’s UK
companes mantan formal processes to nform, consult and
nvolve employees and ther representatves A Natonal
onsultatve Forum comprsng employees and management
representatves meets regularly to provde a forum for dscussng
ssues relatng to all Unlever stes n the Unted Kngdom
We recognse collectve barganng on a number of stes and
engage wth employees va the Sourcng Unt Forum, whch
ncludes natonal offcer representaton from the three
recognsed trade unons A European Works ouncl, embracng
employee and management representatves from countres
wthn Europe, has been n exstence for several years and
provdes a forum for dscussng ssues that extend across
natonal boundares
The Drectors’ Reports of the Unted Kngdom operatng
companes contan more detals about how they have
communcated wth ther employees durng 2014
Equal Opportuntes and Dversty In accordance wth our
ode of Busness Prncples, Unlever ams to ensure that
applcatons for employment from everyone are gven full and
far consderaton and that everyone s gven access to tranng,
development and career opportuntes Every effort s also made
to retran and support employees who become dsabled whle
workng wthn the roup
Independent Audtors and Dsclosure of Informaton to
Audtors To the best of each of the Drectors’ knowledge and
belef, and havng made approprate enqures, all nformaton
relevant to enablng the audtors to provde ther opnons on
PL’s consoldated and parent company accounts has been
provded Each of the Drectors has taken all reasonable steps
to ensure ther awareness of any relevant audt nformaton
and to establsh that Unlever PL’s audtors are aware of any
such nformaton
THE UNITED STATES
Both NV and PL are lsted on the New York Stock Exchange
(NYSE) As such, both companes must comply wth the
requrements of US legslaton, such as the Sarbanes-Oxley Act
of 2002, regulatons enacted under US securtes laws and the
Lstng Standards of the NYSE, that are applcable to foregn
prvate ssuers, copes of whch are avalable on ther webstes
wwwsecgov
wwwnysecom
We are substantally complant wth the Lstng Standards of the
NYSE applcable to foregn prvate ssuers except as set out below
We are requred to dsclose any sgnfcant ways n whch our
corporate governance practces dffer from those typcally
followed by US companes lsted on the NYSE Our corporate
governance practces are prmarly based on the requrements
of the UK Lstng Rules, the UK ode and the Dutch ode but
substantally conform to those requred of US companes lsted
on the NYSE The only sgnfcant way n whch our corporate
governance practces dffer from those followed by domestc
companes under Secton 303A orporate overnance Standards
of the NYSE s that the NYSE rules requre that shareholders must
be gven the opportunty to vote on all equty-compensaton plans
and materal revsons thereto, wth certan lmted exemptons
The UK Lstng Rules requre shareholder approval of
equty-compensaton plans only f new or treasury shares are
ssued for the purpose of satsfyng oblgatons under the plan or
f the plan s a long-term ncentve plan n whch a drector may
partcpate Amendments to plans approved by shareholders
generally only requre approval f they are to the advantage of the
plan partcpants Furthermore, Dutch law and NV’s Artcles of
Assocaton requre shareholder approval of equty-compensaton
plans only f the Executve Drectors are able to partcpate n such
plans Under Dutch law, shareholder approval s not requred for
materal revsons to equty-compensaton plans unless the
Executve Drectors partcpate n a plan and the plan does not
contan ts own procedure for revsons
Attenton s drawn to the Report of the Audt ommttee on pages
56 and 57 In addton, further detals about our corporate
governance are provded n the document enttled ‘The
overnance of Unlever’ whch can be found on our webste
All senor executves and senor fnancal offcers have declared
ther understandng of and complance wth Unlever’s ode of
Busness Prncples and the related ode Polces No waver
from any provson of the ode of Busness Prncples or ode
Polces was granted n 2014 to any of the persons fallng wthn
the scope of the SE requrements Our ode of Busness
Prncples can be found on our webste
wwwunlevercom/corporategovernance
Rsk Management and ontrol Followng a revew by the
Dsclosure ommttee, Audt ommttee and Boards, the EO
and the FO concluded that the desgn and operaton of the
roup’s dsclosure controls and procedures, ncludng those
defned n the Unted States Securtes Exchange Act of 1934 –
Rule 13a – 15(e), as at 31 December 2014 were effectve, and that
subsequently untl 3 March 2015, the date of the approval of the
Annual Report and Accounts by the Boards, there have been no
sgnfcant changes n the roup’s nternal controls, or n other
factors that could sgnfcantly affect those controls
Unlever s requred by Secton 404 of the US Sarbanes-Oxley
Act of 2002 to report on the effectveness of ts nternal control
over fnancal reportng Ths requrement wll be reported on
separately and wll form part of Unlever’s Annual Report on
Form 20-F
48 Unilever Annual Report and Accounts 2014Governance
ORPORATE OVERNANE ONTINUED