The Board of Ósar and its subsidiaries is composed of two men and two women and thereby fulfills the provisions of Article 63 of the Companies Act on Gender Ratios on the Board. The CEO of Ósar is a man, and the CFO is a woman.

Good governance lays the foundation for responsible management and sound decision-making and promotes sound communication with stakeholders. The Board of Ósar and its subsidiaries emphasises good corporate governance and to constantly develop and strengthen them. Thus, corporate governance is under constant review in response to new events, changes in laws and developments in Iceland and abroad.

The Board of Directors has established rules of procedure that frame the company’s governance. The company’s corporate governance is primarily based on Act No. 2/1995 on Public Limited Companies and the Group’s Articles of Association, and with regards to and for guidance, i.a. the Board of Directors’ Handbook (2^nd edition) is followed, as well as the Guidelines on Corporate Governance published by the Iceland Chamber of Commerce, Nasdaq in Iceland and the Confederation of Icelandic Employers (SA). In addition, the Board places great emphasis on assimilating the values of the companies that make up the Group, which is reflected in reliable, responsible and ambitious governance and solution-oriented working methods.

Icepharma’s Values

The operations are in many ways dependent on external conditions, such as the important influencing factor that a large part of it lies within the defined framework of the healthcare system. The operations are thus subject to laws, regulations and official supervision in various ways and call for good working practices in all respects.The Group’s Board of Directors therefore places great emphasis on vigorous risk management as part of the Group’s day-to-day operations, as increasingly rapid changes in the corporate environment involve increased risk.

Code of Ethics and Conduct

The nature of the operations calls for the companies and their employees to adhere to the strictest standards, laws and rules when it comes to the ethics and communication of employees with stakeholders. Employees enforce a Code of Conduct and Ethics that reflects how employees conduct their dealings with consumers, suppliers, customers, colleagues, regulators, shareholders, competitors and society as a whole. The purpose of the Code is to work towards sustainability and social responsibility, promote honesty, fairness and fairness in business and strengthen trust in Ósar and its subsidiaries.

Honest and Responsible Business

Ósar and its subsidiaries conduct honest and responsible business where no kind of bribery or corruption is practiced or tolerated. The Group has established a policy designed to ensure that the Group has an appropriate framework and protection against corruption and bribery, and staff are trained in this policy annually.

Supplier Assessments and Audits

The Group’s value chain is based on ethical and responsible values. Through the implementation of supplier assessments and audits, Ósar and its subsidiaries can have a long-term social impact on their partners and surroundings and choose to work with suppliers and service providers who work according to the same values as the Group.

Regular Review of Sustainability Risks in the Operations

The Board of Directors of Ósar and its subsidiaries is aware of the Group’s social responsibility and increased demands for sustainability. The Board therefore places great emphasis on the Group continuing its journey towards social responsibility and sustainability and regularly reviewing sustainability risks in its operations. In 2022, Ósar and its subsidiaries will implement UFS aspects of the Group’s risk management.

Employees receive, collect, record, work with, store, share and send information in a variety of forms daily – many times a day. We are aware that the information, together with support processes, systems, networks and other resources, is one of the Group’s most important operational assets that needs active protection against various threats. Over the past year, we have therefore placed the main emphasis on information security issues in a broad sense, and as part of sustainable and socially responsible operations, such issues will continue to be a priority for the Group.

The Group has adopted an Information Security Policy and procedures to support it, which is intended to support the continuous operation and maximise the security of information values ​​and including information systems owned and/or held by the Group. The policy is thus intended to ensure compliance with requirements concerning information security and the processing of personal information, e.g. requirements set out in laws and regulations and in agreements with customers and partners.

Responsible Handling of Personal Information

The utmost security is maintained in the handling of personal information, and the companies’ Privacy Policies describe the responsible handling of such information. The role of Ósar’s Data Protection Officer is to assist the management and provide advice when it comes to handling personal information, but the DPO has an equally important role to play towards employees, e.g. in providing information, education, training and other general security awareness among employees. This year, special emphasis was placed on providing information to employees about their own privacy in the employment relationship and in the workplace, and a policy was issued on employee privacy and guidelines to support the policy.