|O-I has implemented corporate governance policies designed to strengthen accountability in the Board of Directors and management teams, thereby enhancing long-term investor value. O-I is respected, nationally and internationally, for the manner in which it has conducted business over the years. Underlying this reputation are the company's high standards of honesty, integrity and ethics. These standards are important business and societal assets O-I is determined to maintain.
Corporate Governance Guidelines
We believe that governance is an important component of a company's overall performance. As such, the Owens-Illinois Board of Directors has put in place corporate governance guidelines, which outline the roles and responsibilities of the Board.
Global Code of Business Conduct and Ethics
Owens-Illinois, Inc. periodically updates its Global Code of Business Conduct and Ethics (the "Code of Conduct") which applies to all directors, officers and employees of O-I and its subsidiaries, affiliates and joint ventures in which O-I has management control. On October 17, 2012, O-I's Board of Directors approved certain amendments to the Code of Conduct, including:
- updates to currently existing O-I policies on anti-corruption and antitrust and competition law compliance;
- additions of examples, in certain situations, of potential issues or concerns;
- a reference to a newly created O-I policy on social media; and
- a letter from the Chairman and Chief Executive Officer, highlighting the importance of compliance with laws and adherence to the Code of Conduct, O-I policies and high ethical standards.