“Every training session at our company causes a tiny eruption of ideas which we must leverage through a robust training program to instill our core values in the soul of our people, revolutionize their professional capabilities, and heighten their safety and quality awareness.”– Dr. Kris Singh, CEO
Holtec International places utmost importance on an effective corporate governance infrastructure, considering it to be crucial to the effectiveness of the Company’s management and its quality program.
Holtec International’s corporate governance rests on the twin pillars of a comprehensively enunciated policies and processes, and an active program of personnel indoctrination. The policies and procedures are, in the ultimate analysis, focused on upholding our “vision and values.” A well-articulated organization chart and clear description of duties and responsibility of the management personnel in the Corporate Operations Manual helps provide a reliable platform for corporate governance ensuring an inhibited flow of information across the company. The Executive Committee is responsible to ensure that the flow of business information is always free and unthrottled, without which effective governance is impossible.
The Company recognizes that to achieve the desired outcome, a relentless campaign of dissemination of our values and vision throughout the workforce is essential. Holtec International’s Board of Directors sits at the apex of the Company’s corporate governance edifice and is ultimately responsible for its continued effectiveness. The day-to-day governance is carried out by the CEO with active support of the Executive Committee, consisting of senior company executives. The essentials of governance are set down in the Company’s Corporate Governance Manual (CD-7) which are implemented by a Corporate Governance Officer (CGO), an experienced company executive with a spotless professional career. The company makes evangelizing the spirit and essence of CD-7 a core priority through an endless stream of internal tutorials, known as Training Tablets. Training, training and more training has been the strategy pursued by the Company since the late 1980s.
The “Employee Manual” (CD-01) and the Corporate Operations Manual (CD-09) together form the top tier documents that help establish the underpinnings of CD-07.
Strengthening the Corporate Culture
Holtec recognizes that, ultimately, it is the quality of the company’s culture that sustains its governance.
To continuously strengthen the Company’s culture, Holtec International ensures that its associates are versed in the policies and practices premised on unimpeachable ethics and professionalism. This is accomplished through a ceaseless campaign of indoctrination of the precepts enshrined in the company’s corporate governance program. Starting each group meeting with a “safety message” followed by a “nuclear safety” message is an example of the continuous campaign of intellectual persuasion that is a daily occurrence at Holtec’s Operations centers.
The Company understands that, with its multi-national workforce spread out in five continents, with its business relationships with scores of customers and nuclear regulatory authorities in diverse countries, and with its suppliers based in over 20 countries, inculcating the message of principled governance is a challenging undertaking that requires continuous reinforcement.
Key Elements of Holtec’s Corporate Governance
- Diversity: Our diversity is reflected in a workforce that consists of persons who collectively represent every major religious and racial group, call every major language as their native tongue and hail every corner of the earth as their native land. Our corporate governance culture is rooted in celebrating our workforce diversity and holding bigotry, prejudice and favoritism of any kind as repugnant to our core values. All company associates are indoctrinated to stand firm against giving or taking of bribery regardless of the prevailing cultural norms in the host country.
- Employee Concerns Program: A vital element of the Company’s governance program is a readily accessible means for the employees to communicate their grievances to the management chain – anonymously or by identifying themselves. The Company considers maintaining a work environment that is free of an even a hint of retaliation or retribution to be essential for its success
- Personnel Safety: Holtec views the physical safety of its personnel to be an overarching corporate responsibility. The Company’s Executive Committee deploys every practical measure to eliminate the risk of fire at its plants or personal injury to its workers. The “safety- first” message permeates at every level of the company- from the top echelon to the people on the shop floor. The program of continuous indoctrination extends to safety of company personnel who are involved in manufacturing and site services work.
- Quality Assurance: A sound information management system supported by corporate governance program provides the solid foundation on which the Company’s Quality Assurance program is built and implemented.
- External interactions: In external relationship matters, the Company treats its agreements with other companies as inviolable commitments. Holtec’s teaming or alliance agreements have an unblemished history of scrupulous compliance.
- Transparency: Internally, operative term for corporate governance is “absolute institutional transparency.” Sharing the inevitable ups-and-downs in a project with the customer, for example, is an established operating principle.
- Honesty: Another key plank of Holtec’s governance program is the expectation that every company associate will conduct himself/herself truthfully regardless of the pressure of the circumstances. Absolute truthfulness, of course, lies at the heart of a trusted nuclear QA program which applies to over 80% of the Company’s industrial goods and services.
- Risk Management: The Company maintains a “risk register” on ongoing projects which is subject to continuous vigilance by the Executive Committee. The Company employs a broad internal consultative process to ensure prudent decision making in major items such as entry into new business areas, entering into alliances and agreements and acquisitions. However, the Board of Directors, the CEO and the Executive Committee are the principal players in charting the business course of the Company.
- Leadership Succession: Holtec has a well-articulated plan for leadership succession to maintain continuity in the event that the CEO becomes unavailable.
- Meritocracy: The Company’s leadership is unwavering in its commitment to meritocracy in the promotion and professional recognition of the Company’s associates. The Executive Committee enforces Company’s merit-centric policy which holds that everyone will advance based on their merit; factors such as race, national origin, ethnicity, religious belief, gender, and sexual orientation shall not play any role whatsoever.
- Community Engagement: Holtec’s operation centers are urged by the Company’s leadership to endeavor to make a positive contribution their local communities. It is the desire to help a needy community that prompted Holtec to establish a Technology Campus in the city of Camden.