STRATTEC on Corporate Governance

STRATTEC’s business is conducted by its employees, managers, and officers under the direction of the Chief Executive Officer and the oversight of its Board of Directors, in an effort to enhance the long-term value of the Company for its stockholders. The Board of Directors consists of six (6) independent members elected by the stockholders to oversee management and to assure that the long-term interests of the stockholders are being served. Both the Board of Directors and management recognize that the long-term interests of stockholders are advanced by sound principles of corporate governance and also by responsibly addressing the concerns of other interested parties including employees, customers, suppliers, government officials, and the public at large.

The Board of Directors recognizes that corporate governance is an on-going process and it will review these principles and other aspects of the Company’s governance as it deems necessary from time to time. The following charters and key practices of the Board committees have been approved by the Board of Directors and provide the framework for the Company’s governance.