Gorenje, d.d. and the Gorenje Group have introduced high standards of corporate governance, which we observe and implement consistently. Observing and surpassing the prescribed, recommended and agreed-upon standards is our permanent task. A high degree of transparency of operations and proper communication with shareholders and other stakeholders are also recognised in our environment as important values of Gorenje. For this reason we are continuously improving the level attained in this area, and updating it according to the best practice principle. The Company consistently implements a two-tier system of management, on the basis of which the Management Board is responsible for managing the affairs of the Company, and the Supervisory Board is responsible for supervising the Company's operations.
In April of 2010, the Management Board and the Supervisory Board adopted the Corporate Governance Policy of the entire Gorenje Group, thereby strengthening cooperation in the area of corporate governance. In accordance with the adopted documents, we proactively and regularly published all relevant information that could affect the business decisions of investors or interested public. We also responded regularly and quickly to the questions of journalists, thus reducing the probability of rumours and articles with untruthful contents.With the purpose to preserve the integrity of the Company and the employees, an open and consistent communication with all participants and stakeholders is observed, whereas the response to public letters by some Gorenje stakeholders was adequate as well. Further, the Company encourages an open and dynamic communication among members of the Management and the Supervisory Board. Although opinions on individual business decisions differ, their harmonisation and co-ordination is always directed towards the Company's future development. Accordingly, we shall continue to respond to any letters in a similar manner and thus protect the Company's reputation, which is all the more important in these intense times.