Corporate Social Responsibility

Corporate governance

Corporate governance

Corporate governance

Corporate governance

We have long believed that good corporate governance is important to ensure that Thermo Fisher is managed for the long-term benefit of our shareholders and other stakeholders. The company’s success requires a robust corporate governance framework, highlights of which include:

  • Board refreshment, with a focus on building diversity of background and skills

  • Proxy access by shareholders

  • Annual director elections

  • Majority voting policy in uncontested elections, with mandatory resignation policy

  • Board committee oversight of risks associated with corporate responsibility and sustainability efforts

  • Shareholder right to act by written consent

  • Active and robust engagement with shareholders on topics such as our business and financial performance, governance and executive compensation programs, and environmental and social matters

For details related to our Corporate By-Laws, Code of Business Conduct and Ethics, Corporate Governance Guidelines, Board of Directors and Board Committees, please visit our Investor Relations page or review our most recent Proxy Statement. Thermo Fisher’s commitment to integrity related to employment opportunities is detailed here.

Public policy engagement and executive compensation

For policies on our public policy engagement and political participation, as well as ESG-related elements in executive compensation, please refer to our latest proxy statement on the SEC filings website.

Regulatory

UK tax policy

Thermo Fisher, in accordance with our Code of Business, Conduct and Ethics, publishes its tax strategy to adhere to UK legislative requirements. 

UK Pension Investment Strategy and Governance

A Statement of Investment Principles (SIP) is a regulatory requirement for UK occupational pension schemes. However, more importantly, it is a clear statement of how the Trustee will manage the Scheme’s investments, setting out the Trustee’s investment principles that govern its decisions about investments. The SIP must set out the Trustee’s policies on how    assets are invested, including in regards to social, environmental and governance considerations, and how investment risks are measured and managed. It is reviewed by the Trustee at least every three years or after any significant change in the investment approach or membership demographic.

 

The Trustee is required to make the SIPs publicly available and you can access them here:

Engagement Policy Implementation Statement

On 6 June 2019, the UK Government published the Occupational Pension Schemes (Investment and Disclosure) (Amendment) Regulations 2019 (the "Regulations"). The Regulations require that from 1 October 2020, trustees of defined benefit pension schemes, defined contribution pension schemes, or hybrid schemes that provide both defined benefit and defined contribution benefits produce an Implementation Statement. The Implementation Statement must include:

  • A summary of the changes made to the Statement of Investment Principles ("SIP") over the scheme year

  • Evidence on how pension scheme trustees have fulfilled the objectives and policies included in the SIP over the scheme year

  • Describe the voting behaviour by, or on behalf of the trustees (including the most significant votes cast) during the scheme year and state any use of third party proxy voting services

The Trustee is required to make the Implementation Statements publicly available and you can access them here:

Gender Pay Reporting

Thermo Fisher recognizes legislative requirements in the UK, France and Ireland to publicly disclose gender pay gap on an annual basis. These reports are accessible below:

For the most recent update on Thermo Fisher’s pay equity analysis in the United States, read our most recent CSR report.

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