Corporate Governance
The value of change and honesty has long been a guiding light of our firm. Its history is one of credibility and open communication. While investor confidence has been challenged worldwide due to the actions of a few, the Company has consistently supported a culture focused on openness, honesty and the utmost in ethics.
Our Board of Directors formalized its fundamental beliefs, instituting enhanced corporate compliance policies and adopting a philosophy that we should be leaders in corporate governance.
Full compliance with the Sarbanes-Oxley Act of 2002, new Securities and Exchange Commission, and NYSE Amex rules are placed as top priorities.
Our Board has a substantial majority (90%) of non-employee directors. Since our Board adopted its corporate governance policies, and through fiscal year 2008, our non-employee directors have been independent in accordance with those policies.
Our overall governance structure migrated toward an increased focus on Board committees, ensuring that each committee is keenly focused on its individual charter and deeply knowledgeable concerning activities and directions of the Company.
All committees consist solely of independent directors, with the exception of the Strategic Planning Committee.
We have and are continuing to strengthen our Audit Committee, ensuring a broad and enhanced base of financial expertise.
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