A Message About Corporate Governance from Armstrong’s Chairman
Armstrong has long embraced the values embodied in our Operating Principles: integrity, respect for people and diverse backgrounds, courtesy, customer service and shareholder focus. Consistent with these principles, we take corporate governance seriously.
Armstrong has been a leader in corporate governance for many years. Our board has been comprised of outside directors since at least 1990. We were leaders in establishing governance principles, a board evaluation process and fully-independent audit, compensation and governance committees. In recent years, Armstrong strengthened its corporate governance with more detailed Corporate Governance Principles, expanded committee charters and provided multiple means for shareholders to contact the board. We also proudly promote our global Anti-Corruption Policy with our employees, partners and agents around the world.
Our Governance strengths include:
Armstrong has followed a code of ethics for many years. The Company began in a small cork-cutting shop in 1860 in Pittsburgh under its Founder, Thomas Armstrong. He was determined that his company act with fairness and in the "balanced best interests (of) customers, stockholders, employees, suppliers, community neighbors, government and the general public."
Armstrong was among the first American entrepreneurs to discard the old business maxim of Caveat emptor--"Let the buyer beware"--and replace it by practicing the principle of "Let the buyer have faith", which became an enduring motto for the Company.
To memorialize this ethical foundation and culture, in 1960 Armstrong adopted its Operating Principles which incorporate the ethical philosophy of Thomas Armstrong and his successors:
In 1992, the Company built on these Operating Principles and established its “Code of Business Conduct”, which all employees, including the Chief Executive Officer, the Chief Financial Officer and the Controller, are required to observe. The current version of our code was introduced in 2011.
In 2002, the Company adopted an additional “Code of Ethics for Financial Professionals”, which all professionals in the Company’s finance and controller functions worldwide, including the Chief Financial Officer, the Controller, and the financial management of each of its business units are required to observe.
These two Codes and the policies which they incorporate contain written standards to deter wrongdoing and to promote:
These codes (and any amendments or waivers that may be allowed) are available to the public through this site.