BOARD OF DIRECTORS
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one of the industry’s most extensive listing of products with
third-party verified product specific Environmental Product
Declarations (EPDs). EPDs provide transparent and comparable
information about the life-cycle and environmental impact of
products. By offering end users a complete range of paints
and coatings, supported by documentation of emissions
and environmental impact, Jotun helps owners achieve their
environmental objectives.
Jotun remains committed to working to eliminate corruption.
Jotun works to build a culture of transparency through a variety
of means, most notably through a robust anti-corruption
policy and training. Anti-corruption training is included in the
induction programme for new employees as well as in Jotun
Academy training. Emphasis is placed on training via e-learning
courses and regular practical dilemma training, especially for
individuals working in management, purchasing and sales.
Jotun has certified trainers in every region to lead dilemma
training courses. The company has also developed stronger
“whistle-blowing” routines, refining our guidelines to
enhance clarity and embedding them throughout the global
organisation. Regional compliance teams have also been
established to ensure each case receives the attention it
deserves, while safeguarding whistle-blowers.
8. Diversity and inclusion
Jotun’s values, Loyalty, Care, Respect and Boldness, promote
equality and value differences in people in all countries where
Jotun operates. These values are also the foundation for
Jotun’s recruitment policy which clearly promotes equality
and stands against discrimination. The policy advocates an
objective, robust and fair decision-making process, irrespective
of gender, ethnicity, religion, disability, political views and
sexual orientation. This policy is actively applied in all Jotun’s
recruitment processes and information about the founding
principles is communicated to employees and managers through
different platforms, such as leadership training, Business Review
sessions, the intranet and others.
Jotun invests in human resources and cooperates with several
institutions towards facilitating training and adjusting work
conditions for Jotun employees who for different reasons (e.g.
health, age, personal reasons), struggle with fulfilling usual
working commitments. When needed, cooperation agreements
are entered with relevant institutions to promote training,
internship and work experience opportunities for people who
struggle to enter the labour market.
Jotun works to ensure that women are provided with the same
opportunities as men. To ensure equal opportunity, Jotun has
implemented uniform, professional and transparent recruitment
procedures, policies, tools and practices.
Two of seven senior management positions that report to
the President & CEO are female. Of those with personnel
responsibility in Jotun A/S, 31 per cent are women (29 per
cent in 2017). Women make up 11 per cent of skilled workers
(unchanged from 2017), while the corresponding percentage
for women among office staff is 36 per cent (unchanged from
2017.) Globally, women count for 18 per cent of the total
workforce (unchanged from 2017). 21 per cent of the Group’s
people managers are women.
9. Future prospects
Global economic trends that impact Jotun’s business include
raw material prices, the price of oil, currency fluctuations,
international trade volume and, more generally, global GDP
growth. Political trends likely to impact Jotun’s business are
more difficult to predict, but may include changing political
alliances, threats to existing trade relationships (protectionism)
and the risk of conflicts between nations. Regional trends are
specific to each country where Jotun is active and may include
natural disasters, civil unrest and localised economic turmoil.
While Jotun monitors global and regional trends carefully,
the Board’s primary focus remains achieving sustainable and
profitable growth. The Board remains committed to Jotun’s
core strategy, which focuses on organic growth, diversified
operations in four segments and a differentiated approach that
allows the company to operate successfully in markets with
different needs.
Looking ahead, Jotun is working to strengthen its organic
growth model by investing in tools and systems to allow the
company to enter new markets more forcefully and at less cost.
At the same time, the company is working to reduce the per
unit cost of producing paints by improving processes at every
stage of the value chain. The Board also recognises the need
for Jotun to respond more rapidly to developing products that
meet increasingly strict health and environmental regulations.
These and other steps the company has taken, combined with
the anticipated recovery of both the newbuilding and offshore
industries, suggests Jotun is positioned to deliver improved
results in 2019.
Odd Gleditsch d.y.
Chairman
Richard Arnesen
Einar Abrahamsen
Nicolai A. Eger
Birger Amundsen
Karl Otto Tveter
Terje Andersen
Per Kristian Aagaard Morten Fon
President and CEO
Sandefjord, Norway, 11 February 2019
The Board of Directors
Jotun A/S