Committed to Doing What's Right
While strong governance practices begin at the top, organizations need clear guidelines to define standards for ethical behavior at every level.
Setting Clear Expectations
Each Chesapeake director and employee, regardless of position, must abide by Chesapeake’s Code of Business Conduct, which is structured around our five core values. To help employees understand expectations around the Code, the company regularly hosts training sessions. Senior management also references the Code during company meetings and each year employees must review the Code and sign a Code certification. New employees learn about the Code and sign a Code certification during their onboarding process.
Beyond enterprise-wide Code training, Chesapeake hosts specialized compliance training sessions tailored to certain employees’ job functions and work types. These sessions offer targeted guidance on important topics such as conflicts of interest, business gifts and entertainment, anti-corruption and fair competition. Approximately 35% of our employees received this specialized training in 2015.
Our Code references a number of policies that further guide employee behavior on more in-depth issues. These documents are available on the Policy Portal of our intranet, providing employees with a central, easily accessible location for reviewing current policies. This portal includes more than 50 policies, such as:
- Anti-Corruption Policy
- Antitrust Policy
- Confidential Information Policy
- Conflict of Interest Policy
- Drug and Alcohol Policy
- Equal Employment Opportunity Policy
- Gifts and Entertainment Policy
- Insider Trading Policy
- Non-Retaliation Policy
- Protection of Chesapeake Assets Policy
- Vehicle Use Policy
- Zero Tolerance Anti-Harassment and Violence Policy
We expect our employees to not only abide by the Code but to report conduct that may be unethical, illegal or in violation of the Code. Managers strive to create an environment where employees feel comfortable reporting concerns. We also offer the Chesapeake Ethics and Integrity Helpline, a third-party confidential hotline and secure website. True to our culture, Chesapeake does not tolerate retaliation against anyone who raises issues in good faith.
All reports of unethical business conduct are investigated, reported to both the Board's Audit Committee and appropriate levels of management, and corrective actions are taken.