GOVERNANCE MODEL | ROBUST AND TRANSPARENT
Cimarron’s governance model is based on best practices taken from reviews of many of the most successful companies in the U.S., and benefits from the input of advisors and risk experts regularly engaged by the Company’s leadership. Our governance protocols are designed to manage risks and drive returns while adhering to our established policies and procedures.
Key policies currently in place include, but are not limited to:
- Code of Conduct
- Anti-Bribery and Corruption
- Discrimination
- Whistleblower Policy
- Supplier’s Code of Conduct
- Human Rights Policy
- Cybersecurity
BOARD OF DIRECTORS | ROLE AND COMPOSITION
Cimarron operates with a Board of Directors in an oversight role, a CEO with specific delegated responsibilities, a Senior Leadership Team with decision rights that promote distributed decision making, and an employee base that understands individual and team roles and responsibilities. Collectively, this working construct is able to establish Cimarron’s purpose, vision, strategy and execution plans to responsibly drive value for all constituents. Our Board of Directors provides oversight of key business processes that help us preserve reputation and manage risk as we deliver value to our customers, employees, and other stakeholders.
Our Board of Directors includes representatives from management (our CEO), our largest investors, and independent industry. Together, our Board benefits from a mix of shared and diverse experiences and skill sets, as well as the working continuity of tenure together (four+ years on the Cimarron Board).
ENTERPRISE RISK MANAGEMENT | OUR BOARD, LEADERSHIP, AND OUTSIDE ADVISORS
As a part of our enterprise risk management efforts, our Board, together with our external audit firm, meets annually to, among other things, identify certain business, financial and control risks. In addition to discussing these risks with the Board, our executive leadership team monitors business and macroeconomic trends and the competitive landscape to help Cimarron address them proactively. These risk-related interactions have led us to strengthen cybersecurity and other business practices.
ENVIRONMENTAL, SOCIAL & GOVERNANCE | BUSINESS RISKS
Although ESG awareness and pressure is an opportunity for Cimarron’s market presence to expand, Cimarron also considers ESG risks to be fundamental to our business, and they are regularly assessed at multiple levels of the organization. The Cimarron ESG Committee, made up of our executive leaders and sponsored by the Executive Chairman of the Board, oversees, and updates the Board on policies, performance, and risks related to the environment, safety, human capital, and other ESG matters.
REPORTING & ACCOUNTABILITY
Our Board of Directors meets at least quarterly, in-person, as well as on an ad hoc basis as warranted. Typically, Cimarron’s entire Senior Leadership Team is involved in the Board meeting preparation and discussions. Periodically, Board meetings are held near the Company’s manufacturing facilities so that operations can be visited and assessed, and also so that a broader set of Cimarron’s employees can interact with leadership and the Directors. In addition, Cimarron’s CEO hosts periodic Town Halls which are delivered, either virtually or in-person, to the Company’s entire employee base. During these meetings, the CEO often reports as to the Company’s progress on safety, operations, financial, compensation, and ESG metrics. The content of these Town Halls is reviewed by the Board prior to circulation across the organization.