Statement by Ronald J. Kramer
Chairman of the Board and Chief Executive Officer
At Griffon we are focused on building and managing a growing business that provides strong financial returns to our shareholders. But our focus is broader than short term financial returns. We strive to conduct a lawful, profitable, safe and sustainable business which we believe will create value in the long term. In pursuing this objective we take into account our responsibilities not only to our shareholders, but to all of our constituencies. As a result, in managing Griffon’s businesses we consider our obligations to our customers, employees, business partners, the communities in which we operate and the broader society.
At Griffon, sustainability means delivering to our customers environmentally sustainable products that will help our children and grandchildren benefit from living on a better planet. Many of our products are made from nature in the form of wood, so we stress the use of recycled wood products and sustainable hardwood forestry.
At Griffon, sustainability means treating our 7500 employees worldwide fairly and with respect, and striving every day to make our workplaces safe, welcoming environments where our employees not only earn a paycheck but are proud to come to work. At Griffon, our employees participate in our success; for example, every full-time U.S.-based employee is also an owner of our company, thanks to our employee stock ownership plan. Approximately 10% of our common stock is owned by this plan.
Sustainability at Griffon also means maintaining the highest levels of ethical conduct and corporate governance. Our Code of Conduct is certified to annually by each of our employees worldwide. Every person on Griffon’s 14-member Board of Directors, other than myself and our President and Chief Operating Officer, is independent, and we strive to be transparent in everything we do. Griffon’s Corporate Sustainability Policy, below, reinforces these values and provides more detail about Griffon’s sustainability program.
Griffon is committed to operating its business in a manner that sustains the environment and protects the health and safety of its employees.
This is consistent with Griffon’s business interests and code of business conduct and ethics. Specifically, we commit to the following:
We will strive to conserve resources and to minimize, and ultimately eliminate, adverse environmental, health and safety (EHS) aspects and hazards that may be associated with our products, services and operations. In doing so, we will focus on creating value for internal and external stakeholders.
Our goal is to provide a zero-harm workplace that prevents injuries and illnesses, and promotes a healthy lifestyle for our employees while respecting the environment. We will provide our employees with the awareness, skills and knowledge to work towards this goal.
We will comply with all applicable laws and Griffon requirements for EHS and sustainability.
We will integrate EHS and sustainability considerations into our business activities.
We will work with our customers to help them address their EHS and sustainability requirements and goals.
We will work with our suppliers and contractors to enhance EHS and sustainability performance.
We will participate in community and government EHS and sustainability initiatives.
Compliance with this policy is the responsibility of every employee.