|Covidien’s board of directors is responsible for directing, and providing oversight of, the management of Covidien's business in the best interests of shareholders, consistent with good corporate citizenship. In carrying out its responsibilities, the board selects and monitors top management, provides oversight for financial reporting and legal compliance, determines Covidien's governance principles and implements its governance policies. The board, together with management, is responsible for establishing the company's operating values and code of conduct and for setting strategic direction and priorities. |
While Covidien's strategy will evolve in response to changing market conditions, the company's mission and values are enduring. Covidien believes that good governance requires not only an effective set of specific practices but also a culture of responsibility throughout the firm, and governance at Covidien is intended to optimize both. Covidien also believes that good governance ultimately depends on the quality of its leadership, and it is committed to recruiting and retaining directors and officers of proven leadership and personal integrity.