Dedicated to a Culture of Transparency
Genco is a transparent, U.S. filer with no related party transactions. Maintaining transparency and stringent corporate governance standards are fundamental components of our business, as evidenced by the data below:
- No. of independent directors: 4
- No. of current related party transactions: 0
- No. of violations of anti-corruption laws: 0
- Separate independent Chairman and CEO
Since inception, we have acted on the belief that doing the right thing sets the foundation for long-term success.
We have a KPI structure in place to align executive and employee cash compensation with shareholder interests. It’s a measurable approach to cash compensation, outlining clear and stated goals and objectives for each employee and providing transparency (as progress can be tracked throughout the year).
Objectives of this approach include:
- Creating a measurable pay for performance culture
- Better aligning the interests of management and employees with those of shareholders
- Appropriately compensating and motivating strong performers
- Discouraging excessive risk taking
Committed to Anti-Corruption
Anti-Bribery Policy: Genco does not permit or authorize bribe payments, kickback payments, extortion payments, expensive or inappropriate gifts or meals, or undocumented payments.
We maintain a robust system of internal controls (including KYC procedures and sanctions compliance programs). Our employees receive anti-corruption and sanctions training regularly. All company-related expenditures are documented. We have clear standards; a code of conduct provides the framework on how we conduct our business, including both an FCPA policy and conflict of interest policy reviewed on an annual basis.
We are TRACE certified, the world’s leading anti-bribery standard setting organization. We are also members of the Maritime Anti-corruption Network, the leading anti-corruption initiative in the maritime industry.
