TimkenSteel is committed to promoting the long-term interests of shareholders and building public trust through good governance practices. We are committed to operating in accordance with the highest standards of ethics and integrity, and maintaining robust programs focused on compliance. Our core values constitute the bedrock of our culture and our governance and ethics commitments.
We regularly review, and update when necessary, the charters for our Board committees, director selection criteria and procedures, board composition criteria, and various policies and procedures designed to ensure effective and responsive governance.
The TimkenSteel Code of Conduct sets forth policies covering a broad range of subjects, including antitrust and competition, corruption and bribery, conflicts of interest, inside information, accurate financial records, among other matters, and requires strict adherence to laws and regulations applicable to the company’s business.
In accordance with our Supplier Code of Conduct, we seek to work with suppliers that share our core values. This Code stipulates that all suppliers are expected to operate in full compliance with applicable laws, rules and regulations related to EHS, child labor, forced labor, wages and benefits, non-discrimination, gift and gratuity policy and conflict minerals. It explains our approach to compliance monitoring, application to subcontractors and actions to address violations.
For more information on these documents, see the Corporate Governance page and our 2021 Proxy Statement.
TimkenSteel’s Board of Directors oversees the company’s corporate responsibility and ESG strategy. The Board conducts an annual review of the company’s ESG program.
At the senior management level, a cross-functional team meets regularly to review key issues, discuss progress, and make recommendations to company leadership and the ESG working group. Team members serve as liaisons among company executives, plant operations, risk management leaders and other internal stakeholders on sustainability-related matters.