INTEGRITY in how we GOVERN OUR BUSINESS.
At Albany, we are committed to conducting our business with integrity and according to the highest ethical standards, in accordance with the laws and regulations to which our activities are subject. The maintenance of high governance standards is supported by the Company’s comprehensive processes and policies, communications, and training.
2021 Corporate Governance Enhancements- In the past year, we have made several changes to enhance our Governance practices, notably:
- Effectively eliminated the dual class share structure with only 1,154 Class B common shares remaining outstanding
- Enhanced our board oversight to explicitly include ESG governance as a role of the Governance Committee
- Enhanced our director selection criteria to explicitly consider diversity in the evaluation of board candidates
At Albany, we embrace uncompromising honesty and behave ethically and fairly. We are unwavering in our commitment to following the laws, regulations, standards, and ethical practices everywhere we do business. Ethics and compliance play an integral part in our decision making and business operations.
- To communicate expectations and establish the high standard to which we hold ourselves we have adopted a broad and robust Business Ethics Policy
- We maintain a series of stated Ethics Absolutes and a Code of Ethics are signed by our Chief Executive Officer, Chief Financial Officer and Chief Accounting Officer.
- Our ethics reporting platform, EthicsPoint Helpline, is maintained and monitored by an independent third party.
2. Data Security
At Albany, data security is a top priority. To protect our company and customer data we employ industry best practices and adhere to the CIS 20 and NIST SP 800-171 cyber security frameworks. Our Data Security strategy is overseen by the Audit Committee of our Board of Directors, regularly reviewed at the executive level, directed by our Chief Information Officer, and managed by Albany’s Enterprise Cyber Security (ECS) team.