2022 Sustainability Report
Learn more about our responsible governance and ethics practices, read the “Principles” section of our latest sustainability report.
Sustainability
Governance and Ethics
We are committed to building public trust and operating in accordance with the highest standards of ethics and integrity.
Metallus is committed to promoting the long-term interests of shareholders and building public trust through good governance practices. We operate in accordance with the highest standards of ethics and integrity, and maintain robust programs focused on compliance.
We regularly review – and update when necessary – the charters for our Board committees, director skills, qualifications, and experience, and various policies and procedures designed to ensure effective and responsive governance. Our Metallus Code of Conduct sets forth policies covering a broad range of subjects and requires strict adherence to laws and regulations applicable to the company’s business. We maintain a Supplier Code of Conduct, which stipulates that all suppliers are expected to operate in full compliance with applicable laws, rules, and regulations related to environmental health and safety, child labor, forced labor, wages and benefits, non-discrimination, gifts and gratuities, and conflict minerals.
Additional Resources:
Our Commitment to Responsible Corporate Governance Practices
- Non-executive Chairman of the Board
- All directors, other than Mr. Williams, are independent
- Annual Board and committee evaluations
- Limits on director “overboarding”
- Risk oversight by the full Board of Directors and its committees, under Audit Committee guidance
- Related-party transactions approval policy
- Robust share ownership and holding requirements for executive officers and directors
- Comprehensive director and employee Code of Conduct, and ethics and compliance program
- Independent Audit, Compensation, and Nominating and Corporate Governance Committees
- Regular executive sessions of independent directors at Board and committee meetings
- Majority voting policy in uncontested elections of directors
- Mandatory retirement age of 75 for directors
- Annual review by Board of Directors of succession plans for CEO and key executives
- Anti-hedging and anti-pledging policies
- Commitment to corporate responsibility with Board of Directors’ oversight of sustainability strategy
- Supplier Code of Conduct that establishes expectations for ethical business practices in our global supply chain
Sustainability Oversight and Risk Management
The Metallus Board of Directors oversees the company’s sustainability strategy. The Board conducts an annual review of the company’s strategy, risks, and opportunities. The Board and its committees also review information relative to the company’s environmental and safety performance, as well as human resources and governance matters, on a regular basis.
Our sustainability steering committee, comprised of senior-level leaders across the company, is responsible for sponsoring, informing and advising on high-priority sustainability topics through periodic materiality assessments; ensuring that goals are developed for high-priority sustainability topics; and sponsoring, approving, and overseeing key sustainability projects. Core working groups lead individual high-priority topics and projects.
Case Studies
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Partner Communications Tool
We recently added functionality to improve communication with our service providers to maintain the safety and continuity of our operations. Our platform includes Metallus-specific training materials for contractors on conduct, safety, site access, and more. In addition, we can screen for new partners, such as proximity to site, minority or women-owned, etc.
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Cybersecurity Training and Awareness
In 2023, Metallus organized two cybersecurity incident response sessions for handling potential threats. These sessions involved third-party experts and leaders from different parts of our company. During these drills, the team had to prepare for, recognize, react to, and recover from a theoretical cybersecurity issue. The primary goal was to collaborate and work through the incident while identifying areas for improvement. Training of this nature positions our company to take quick and decisive action in the event of a cyber threat.