Corporate Governance and Code of Ethics

The Company has an active Board of Directors comprised of leading individuals from industry and finance that meets several times each quarter. Approximately half of the Board members are independent with two members formally designated as ‘external’ as required by the Israel Companies Law. Collectively, the Board has significant financial expertise including a former Minister of Finance of the State of Israel, four former senior management members of major Israeli banks and former chairman of the Tel Aviv Stock Exchange (TASE). Decisions are taken by a simple majority, although most decisions are made unanimously.

Board Committees include the Executive Committee (ongoing management), Finance Committee, Audit Committee, Human Resources Committee and ad hoc committees, as required. As a general rule at least one external director is a member of each committee with managerial powers. Most committees meet at least once a quarter.

Most of the members of the Board serve as members of ICL subsidiaries in order to better supervise the management of those segments.

For additional details regarding ICL’s corporate governance, click here to view an expanded discussion of ICL’s management and operations as detailed in its latest ‘Barnea’ Report, or contact Lisa Haimovitz, Adv., ICL’s General Counsel and Company Secretary.               

Summary of ICL’s Code of Ethics 
 

ICL’s corporate culture is based on a platform of six core values for the pursuit of long-term sustainable growth and prosperity. These values are expressed and elaborated in ICL’s Code of Ethics, a guide first adopted by our Board of Directors in 2005. This Code defines the Company’s rules of conduct for the Company as a whole, and for each ICL employee as an individual.

The Code’s six core values include:

• Obeying the law, regulations, professional rules, procedures and compliance programs. All employees, officers and directors of ICL are obligated to comply at all times and unconditionally with the requirements of all applicable laws, regulations, professional rules, internal procedures and compliance programs applicable to their area of activity at ICL.
• Fairness in business. We at ICL are required to be direct, honest, transparent and fair in all our business dealings.
• Responsibility.  We at ICL take full responsibility for our actions and performance, and for meeting our stakeholders’ expectations.
• Excellence and constant improvement.  We strive to be the best, and encourage everyone who works with us – our clients, suppliers and business partners – to pursue excellence as well. We work continuously to assure that the work and services that we offer, as well as the processes that we use in creating and delivering them, are of the highest quality. We are demanding of ourselves and others, and remain open to constructive criticism and suggestions for improvement.
• Respect towards others. We treat everyone with courtesy and respect, value different opinions, and embrace diversity. We allow people to express themselves, care about people’s well-being, and respect the need for life outside work.
• Commitment to safety. We are committed to protecting the health and safety of all the people who play a part in our operations, and of all the people who live in the communities in which we operate. We will not be satisfied until we succeed in eliminating all injuries, illnesses and unsafe conditions related to our operations.
• Commitment to the environment. Wherever we operate, we will conduct our business with respect and care for the local and global environment, and systematically manage risks to drive sustainable business growth. We will not be satisfied until we succeed in eliminating incidents of environmental arm from our activities. We seek to continuously improve the environmental performance of our products and operations.

Click to view the Company's Code of Ethics: Hebrew version or English version.