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In order to be able to meet its customers’ needs and ensure project performance and value creation in the different projects, Veidekke has a decentralised organisation with a large degree of local responsibility and authority. At any one time, activities consist of more than 1 000 ongoing projects, normally of 3 to 18 months’ duration. One of the main aims of the Group’s management systems is to ensure control and oversight of these projects. This is achieved by systematic project reporting. Reports are submitted ten times a year and deal with both financial and non-financial matters. The profitability and risk associated with each individual project are central control parameters.
Veidekke is owned mainly by financial investors, and independence from shareholders is therefore not a significant problem. One exception is OBOS, which holds 28 percent of the company’s shares. To ensure independence from OBOS, owner representation and project cooperation are never handled by the same persons. Employees as a group hold 19.3 percent of the shares. However, since no individual employee holds more than 0.3 percent of the shares, there is no independence problem.
See also in this report a complete account of corporate governance in Veidekke.