GOVERNANCE
We are proud of the governance provided by our Board of Directors, which is comprised
of established leaders within our communities who have the experience and judgment
necessary to carry out its functions on behalf of our stockholders.
Corporate Governance Guidelines of the Board
The Board has established and approved
Corporate Governance
Guidelines. These are examined by the Board periodically in light of evolving
standards of corporate governance.
Code of Ethics
Lakeland also has developed a
Code of
Conduct,
which is a collection of certain rules and policy statements periodically examined
and approved by the Board that are intended to assist and guide employees and directors
in making decisions about their conduct in relation to Lakeland's business.
Committees
The Board as a whole is responsible for the oversight of management on behalf
of Lakeland's stockholders. The Board accomplishes these functions acting directly
and through several Board committees, which include: Audit, Compensation, and Nominating
and Corporate Governance. The Audit Committee is responsible for reviewing the reports
submitted by Lakeland's independent registered public accounting firm and internal
auditor and for reporting to the Board on significant audit and accounting principles,
policies, and practices related to Lakeland. The Compensation Committee makes recommendations
to the Board concerning compensation for Lakeland's executive officers and directors
and generally oversees all compensation programs. The Nominating and Corporate Governance
Committee is responsible for interviewing potential candidates for election to the
Board and for nominating individuals each year for election to the Board. In addition,
this committee is responsible for developing, recommending to the Board and reviewing
annually the Board's Corporate Governance Guidelines, including the Code of Ethics.
The current composition of the committees, along with links to their respective
charters, is set forth on the attached matrix which can be viewed by
clicking
here.