Our Board of Directors, management and employees share an ongoing commitment to the highest standards of corporate governance. Every year, we review our governance guidelines to verify the standards meet the level of excellence our customers have come to expect.
The board has established five standing committees: Audit, Compensation, ESG, Risk, and Technology and Safety. The newly named ESG Committee is responsible for shaping the company’s ESG initiatives.
Our Governance guidelines were modified in 2014 to provide for an independent Chairman of the Board following the tenure of our current Chairman and CEO, whose employment agreement provides he will serve in both roles. Until such time, the board considers the current combination of the chairmanship with an experienced, independent lead director an effective structure for the company. The board’s current view is that this synthesis coupled with a predominantly independent board and a proactive, independent lead director, promotes a candid discourse and responsible corporate governance.
Enterprise Risk Management
Nabors Enterprise Risk Management Committee (ERMC) considers a broad and complex set of risks. along with those that are commonly associated with the industry.
We work diligently to communicate with our shareholders but it is just as important to hear from them. Shareholders provide valuable input and serve as our touchstone for concerns and potential issues.
The Audit Committee of the board, guided by a written Audit Committee Charter, monitors financial statements, the qualifications and independence of the independent auditor, the performance of auditors and company compliance of legal and regulatory requirements.
Nabors maintains cybersecurity strategies to prevent and address potential risk to the everyday operations and protect our environment and employees. Standing on the front lines of corporate security is our ever-vigilant IT team.
Code of Conduct
Nabors is committed to conducting business in a responsible, honest and ethical manner, thereby fostering a safe and productive work environment. We uphold this commitment to our shareholders, employees, customers, suppliers and the communities in which we operate.
Business Conduct and Ethics
Conflict of Interest
Nabors recognizes and respects that employees may take part in legitimate financial, business and other activities outside their jobs. To ensure these transactions are lawful and free of conflicts, we provide training and education on the scope of their responsibilities as Nabors employees.
Compliance with Law, Rules and Regulations
Nabors conducts business with all governmental representatives in adherence to high ethical standards and in compliance with applicable laws and regulations, including U.S. laws that have application outside of U.S. territories, and special requirements associated with government transactions.
Bribery of public and private officials in the conduct of Nabors’ business in the U.S. and abroad is strictly prohibited.
Our Chief Compliance Officer oversees the company’s anti-bribery program.
Intellectual Property and Confidentiality
Built on the shoulders of pioneers, Nabors has always pushed the boundaries by investing in research and development. As we explore options and generate innovative products, we employ Intellectual Property (IP) strategies to safeguard our valuable assets.
Compliance and Reporting
Ethical conduct is more than a catchphrase; it is an expectation for every employee, officer and board member. Each person is empowered to raise potential issues and report violations of company policies.