We are committed to good business practices, transparency in financial reporting, and vigorous and effective corporate governance. Working together with management and our advisors, our board of directors continues to evaluate CTI’s policies and procedures to maintain compliance with laws and regulations and effectively manage the affairs of CTI.
Our directors bring to the Company a wide range of experience, knowledge and judgment. These varied skills mean that good governance depends on more than a "check the box" approach to standards or procedures. Our governance structure is designed to be a working structure for principled actions, effective decision-making and appropriate monitoring of both compliance and performance.
To be effective, our directors maintain an attitude of constructive skepticism and review of CTI’s operations. Our directors know that their job requires them to ask probing questions of management and to take action designed to get accurate and honest answers. Our directors also rely on the advice, reports, and opinions of management, counsel and our other expert advisors. In doing so the board of directors constantly evaluates the qualifications of those it relies on for information and advice, and also looks to the process used by managers and advisors in reaching their recommendations.
On June 5, 2008, our Audit Committee approved revisions to our Code of Business Conduct and Ethics. The primary purpose of these revisions was to add a new disclosure program that provides a reporting mechanism compliant with the Corporate Integrity Agreement that we entered into in December of 2007 with the Office of Inspector General -- Health and Human Services. In addition, we added language from our quality policies and our employee handbook to emphasize the importance of quality compliance and to reiterate our non-retaliation policy relating to the whistleblowing policy now included in the Code of Conduct and Ethics. Additional non-substantive revisions and organizational changes were made to the Code of Business Conduct and Ethics as part of this update. The revised Code of Business Conduct and Ethics was posted on this website on June 11, 2008.
We believe that effective corporate governance is critical to achieving our mission of making cancer more treatable while providing value for our employees, customers, and stockholders. We are committed to the highest standards of ethics in the conduct of our business.
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