Olympic Steel’s Governance Practices
Following is an overview of the structure and policies we have in place to ensure we are operating responsibly and in compliance with all federal, state and local requirements:
- Corporate governance: Starting at the Board level, Olympic Steel has a top-down commitment to integrity. The roles of Chairman and Chief Executive are separate, and we have an Independent Lead Director. All members of our three Board committees – Audit and Compliance, Compensation, and Nominating and Governance committees – are independent.
- Board diversity: In evaluating the suitability of Board candidates, diversity of experience, backgrounds and perspective are among the factors considered by the Board’s Nominating and Governance Committee.
For information about our current Directors, click here.
- Ethics: It is the policy of Olympic Steel that Company business be conducted at all times according to the highest standards of integrity and honesty. The Business Ethics Policy applies not only to our principal executive officer and principal financial and accounting officer and controller, but also to all our employees.
Our Business Ethics Policy is available here.
- Compliance: We also maintain the following policies and programs:
- An Internal Audit Department
- Policy on Transactions in Securities and Improper Use of Material Information
- Policy on Anti-Corruption, including complying with the Foreign Corrupt Practices Act
- Financial Management Code of Ethics
- Supplier Code of Conduct
Every Olympic Steel employee is empowered to keep colleagues and leadership accountable for all Company policies, procedures and governance.
In addition to the structure and policies listed above, we provide the following methods for employees to pose questions and resolve work-related issues or concerns:
- Open Door Policy – We promote and maintain open lines of communication within the organization. From the time they join the Company, we encourage employees to express personal opinions and seek answers to questions from all levels of management.
- Whistleblower Hotline – Each employee is given access to the Company Whistleblower Hotline for the purpose of reporting complaints or concerns specifically related to Olympic Steel’s financial practices. This is managed by a third party and the names of callers remain confidential.
These resources are shared with employees in the Olympic Steel Employee Handbook and reiterated annually during the Standards of Conduct review provided to all employees. All reported concerns are taken seriously and investigated promptly and thoroughly, and Olympic Steel does not permit retaliation of any kind against employees who submit concerns or complaints in good faith.