At NACCO, parent company oversight and consulting roles are reinforced by a corporate governance structure designed to ensure accountability, fiscal responsibility and the highest level of ethical conduct.
This corporate governance program has four key elements which have largely been in place for a decade or more*:
- Strong, independent board of directors to ensure effective oversight
- Reinforced by subsidiary company structures
- Each with its own CEO
- Each with separate, independent board of directors
- Each with separate P&L's, balance sheets and debt
- Strong, independent nominating and governance committee to ensure a strong, independent board
- Strong, independent compensation committee to ensure responsible compensation
- Strong, independent audit committee to ensure accounting integrity
* Key components of the Corporate Governance Program were outlined in CEO Perspectives published in NACCO Annual Reports from 1991 to 1995. These articles were brought together in a publication entitled CEO Perspectives, which is available on this website by clicking the active link.