For all of us at the Lumene Group, good corporate governance is not only about following legal requirements, but also about being accountable, transparent, fair and responsible in our daily operations. Good corporate governance helps support business growth and inclusive societies.
LUMENE GROUP GOVERNING STRUCTURE
BOARD OF DIRECTORS
Acting as the highest governing body, the Board ensures that the company’s administration and operations are properly organized and comply with applicable laws. Acting with its general authority the Board defines company’s strategic direction, oversees financial management and ensures accurate bookkeeping and reporting. The Board’s role is to safeguard the interests of all shareholders with the aim of maximizing the shareholder value while also taking into account the interests of all stakeholders.
Beyond financial and operational oversight, the Board plays a significant role in embedding sustainability and ethics into Lumene’s governance framework. It approves the company’s purpose, values, and mission, and aligns these with our sustainability strategy and goals for sustainable development.
To strengthen governance, the Board operates through specialized committees, the Audit Committee and the Remuneration Committee. These committees assist in areas such as financial reporting, risk management, compliance, sustainability assurance and executive remuneration.
LEADERSHIP TEAM
The Lumene Leadership Team (LLT) is responsible for the management of business operations and the efficient implementation of the strategies in accordance with the objectives set by the Company’s Board of Directors and the Group CEO. Their goal is to maximise the Group’s performance including the achievement of business targets. The LLT meets regularly, at least once a month.
Each member of the Leadership Team is responsible for the impact of the business – in relation to their own area of responsibility – on the economy, environment and people.
OUR BUSINESS PRINCIPLES
- We comply with the laws and regulations of the countries in which we operate.
- We respect human rights throughout our whole value chain.
- We promote safe, healthy and equal working conditions.
- We develop, manufacture, market and sell safe and sustainable beauty products and maintain good communication.
- We establish mutually beneficial relationships with our business partners.
- We fulfil our responsibilities in the societies and communities where we operate.
- We promote continuous improvements to reduce our environmental impact.
- We are committed to fair competition and avoid conflicts of interest.
- We do not give or receive bribes or other improper advantages.
ANNUAL REPORT 2024
Lumene Group’s Annual Report 2024 consist of Our Year, Sustainability Report and Corporate Governance.
