Alcoa Receives Top Marks in Corporate Governance and Ethics.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Alcoa (NYSE NYSE See: New York Stock Exchange :AA) received top rankings on its corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. practices and ethical reputation by two major rating agencies. Alcoa received an excellent standard of corporate governance with an overall rating of 9.5 on a 10-point scale in the 2006 report of GovernanceMetrics International[R]' (GMI GMI Governance Metrics International (New York, New York) GMI Giant Magneto-Impedance GMI Global MSF Interoperability GMI General Motors Institute GMI General Mills, Inc. ), an independent global corporate governance ratings agency. This compares with an average score of 6.5 for the Industrial Metals sector. GMI rates corporations against industry norms for such factors as board accountability, financial disclosure/internal controls, renumeration, and shareholder rights. For corporate behavior, Alcoa received a perfect 10 based on its community giving, emphasis on safety, and environmental and sustainability initiatives. Alcoa also received the best ethical score among 18 international metals/mining companies in a Mining & Metals Industry Report prepared by Covalence covalence /co·va·lence/ (ko-va´lens) 1. the number of electron pairs an atom can share with other atoms. 2. one or more chemical bonds formed by sharing of electron pairs between atoms. , a European based organization that tracks the ethical reputation of multinational corporations
the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance World Index. Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap[R]' foils and plastic wraps, Alcoa[R]' wheels, and Baco[R]' household wraps. Among its other businesses are closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 44 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion