FAVORIT LLC operates a two-tier board level, which means that management and supervision are separated.
The Executive Board is responsible for the day-to-day management of the business and for setting out and realizing the company’s long-term strategy. The Supervisory Board is responsible for supervising the Executive Board’s performance and advising the Executive Board.
The Executive Board and the Supervisory Board attach considerable importance to good corporate governance. They endorse the view that good entrepreneurship, including transparent and ethical conduct by the Executive Board and effective supervision thereof by the Supervisory Board, are essential conditions for instilling confidence in the management and supervision among the stakeholders. At FAVORIT LLC, the assurances for good corporate governance are found primarily in a culture distinguished by integrity, professionalism and common decency.