The core principles of corporate governance drive the cornerstones of H.J. Heinz Finance UK PLC’s governance philosophy, namely trusteeship, transparency, empowerment and accountability, control and ethical corporate citizenship. H.J. Heinz Finance UK PLC believes that the practice of each of these leads to the creation of the right corporate culture by which the company is managed.
H.J. Heinz Finance UK PLC believes that organizations have both a social and economic purpose. They represent a coalition of interests, namely those of the shareholders, other providers of capital, business associates and employees. This belief therefore casts a responsibility of trust on the company’s Board of Directors. They are to act as trustees to protect and enhance shareholder value, as well as to ensure that the Company fulfils its obligations and responsibilities to its other stakeholders.
H.J. Heinz Finance UK PLC believes that transparency means explaining company’s policies and actions to those it has responsibilities towards. Therefore, transparency must lead to appropriate disclosures without jeopardizing the Company’s strategic interests. Internally, transparency means openness in Company’s relationship with its employees, as well as the conduct of its business in a befitting manner. We believe transparency enhances accountability.
H.J. Heinz Finance UK PLC believes that empowerment is a process of actualizing the potential of its employees. Empowerment unleashes creativity and innovation throughout the organization by truly vesting decision - making powers at the most appropriate levels in the organizational hierarchy.
H.J. Heinz Finance UK PLC believes that control is a necessary concomitant of its second core principle of governance that the freedom of management should be exercised within a framework of appropriate checks and balances. Control should prevent misuse of power, facilitate timely management response to change, and ensure that business risks are pre-emptively and effectively managed.
H.J. Heinz Finance UK PLC believes that corporations like itself have a responsibility to set exemplary standards of ethical behavior, both internally within the organization, as well as in their external relationship
© 2023 H.J. Heinz Finance UK PLC. All Rights Reserved.