The Sandvik Way

The Sandvik Way is based on three segments, as illustrated in the model below.

Governance structure

This segment outlines how the Sandvik Group is led and governed. The Board, elected at the Shareholders’ Meeting, sets the strategic direction for the Group. The President carries this out through the Group Executive Management, whose members manage and oversee the operations of the Group. The main operational responsibility in the Group lies with the business areas and divisions, whereas the Group functions are responsible for functional policies and processes supporting the business.

The Sandvik Way has been implemented in each of the business areas, with additional requirements cascaded down in the operational structure of the business areas.

Operations

The detailed controls and risk frameworks common across the Group are detailed in this segment. This includes aspects such as strategy and risk management, policies, financial forecasting and scenario planning, as well as compliance, internal controls and audits. Performance management, controls and continuous improvements provide a solid basis for our ways of working.

Corporate culture

This segment sets the foundation for how we all shape our culture in the company and enable a customer-oriented and responsible business. Our operational controls and risk frameworks are supported by the ambitions and requirements of our purpose, core values, Code of Conduct and leadership model.