Stena as an owner
Stena as an owner
INDEPENDENT BUSINESSES WITH A SHARED FRAMEWORK
Stena adheres to the principle of delegated business acumen, with decisions taken close to the business. By balancing independent businesses with a shared Group framework, we create a successful dynamic.
Our vision to “Always be the customer’s first choice and quality- assured partner” requires us to safeguard the company’s and the world’s resources. We contribute to this vision by participating in value-creating activities – often together with our customers.
By maintaining good contact with our customers and the world around us we nurture our growing trust. By doing this we create more and better business – and more satisfied customers.
- By using our expertise, we will make money from our business areas: shipping, ferry lines, offshore, real estate and finance. We will also continue to create new business areas for the future.
- We will take care of our most important long-term assets, our customers, in such a way that we contribute to their – and society’s – positive development.
- Never wasting our own or the world’s resources is a Stena trademark.
Stena AB is an active, responsible owner with access to the expertise necessary to create good development in values over time. Within Stena AB’s organisation, through our own experience and partnerships, this expertise is gathered within business development, financing, reporting, HR, communication and procurement. Stena AB organises and encourages contact and collaboration between companies, in order to enhance the benefits of being part of a large Group.
WHITE BOOK WITH SHARED VALUES
Each business is responsible for its own profitability, but there are also a number of common denominators for conduct within the Group. In the White Book, the principles, beliefs and fundamental values applying to all companies in the Stena AB Group are to be found. Besides Stena’s vision, mission and business idea, this sets out shared success factors and describes the Group’s values. To ensure long-term value creation, the focus is not only on financial earnings; the goal is also to work for the next generation and contribute to lasting change.
The ninth edition of the White Book was published in 2019.
Each business is based on a clear business idea. The strategy to achieve the goal is based on delegated responsibility. Business knowledge is found in the companies, which is also where decisions are taken. While emphasising the importance of the independence and active business acumen of the business areas, the work in each business area must adhere to adopted systems and processes, so that Stena can guarantee good performance throughout the Group.
The main assignment of Stena ABs function for Corporate Governance is to ensure that the Group’s operations are conducted in a sustainable, responsible and efficient way. The work is based on two codes; the Code of Governance and the Code of Conduct, most recently updated in 2020. The Group’s Code of Governance describes rules and responsibilities for the operations and contains a compilation of the existing steering documents. These include risk management, internal control, information security and compliance, among other things. The Code of Conduct describes the social norms, rules and responsibilities of the Group and contains guidelines for how employees and partners are expected to act. An important part of the governance work is to review the internal control of the financial reporting, which is regularly reported to the Audit Committee under Stena AB’s Board of Directors. Another task is to assist the business areas in dealing with ever growing demands for corporate governance. Policies regarding corporate governance are established by Stena AB’s Board of Directors and executed by the business areas
Sustainability work at Stena is based on shared values and the SuStenability process at the core of the entire Group’s sustainability management. The central sustainability department is responsible for holding the reins of the strategic sustainability work that takes place in the businesses, and reporting on the development to the Audit Committee under Stena AB’s Board of Directors twice a year.
PRUDENT RISK MANAGEMENT
Shareholder value is created by accepting and managing risk on a responsible basis through effective risk management. The Group’s stability is safeguarded by a deliberate strategy to focus on several different industries that face various risks, in contracyclical industries. Prudent risk management maintains confidence in Stena’s ability to achieve its strategic ambitions, in line with its values and goals.