employees who, for different reasons (e.g., health, age, personal
reasons), struggle with fulfilling usual working commitments. When
needed, cooperation agreements are entered with relevant institutions
to promote training, internship and work experience opportunities for
people who struggle to enter the labour market.
ADDRESSING THE GENDER GAP
Jotun works to ensure that women are provided with the same
opportunities as men. To ensure equal opportunity, Jotun has
implemented uniform, professional and transparent recruitment
procedures, policies, tools and practices.
More information about Jotun’s Diversity and Inclusion initiative, is found
on https://www.jotun.com/ww/en/corporate/sustainability/diversity-and-
inclusion/
9. FUTURE PROSPECTS
While the Board anticipates that the COVID-19 pandemic will subside in
2021 as more vaccines become available, significant market uncertainties
remain. In regions most affected by the pandemic, the lingering impact on
local economies is likely to slow growth, while in others, a faster return to
more activity may result in more investment and consumer spending. In
addition, rising raw material prices are likely to affect Jotun’s profitability.
The Board recognises that the company will face challenges specific to
some segments. For example, with declining newbuilding orders and
low freight rates placing owners under financial pressure, sales of marine
coatings may slow. Likewise, it may take time for delayed offshore and
oil and gas projects to restart, which may impact sales in the Protective
Coatings segment.
Nevertheless, the organisation has taken steps to prepare for changing
markets by shifting resources where appropriate and strengthening
relationships with key customers by offering innovative products and
technical support to help them achieve their objectives. As in 2020, the
company’s regional and segment diversity will help to mitigate business
risk. In addition, Performance Coatings has undergone a restructuring
to become more cost efficient and better drive product and customer
development through the regions.
Long-term, the Board is committed to supporting the company’s efforts
to lower its environmental footprint and work more closely with suppliers
and customers to fight climate change, reduce waste and protect life
under water. The Board also supports the company’s diversity and
inclusion initiative, consistent with the UN Sustainability Goal Number
8 (Decent work and economic growth). Jotun’s significant investments
in personnel and competence development give the Board confidence
in the organisation to implement these changes and manage whatever
challenges the company may face going forward.
Sandefjord, Norway, 18 February 2021
The Board of Directors
Jotun A/S
Morten Fon
President & CEO
Odd Gleditsch d.y.
Chairman
Jannicke Nilsson
Einar Abrahamsen
Nicolai A. Eger
Kai Roger Johansen
Camilla Hagen Sørli
Terje Andersen
Per Kristian Aagaard
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Board of Directors
Jotun Annual Report 2020 I 15
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