Human Capital “The Energy of Us”

Improve the diversity of our workforce

The constant growth reflects our willingness to ensure our workforce is global
and diverse. 247 newcomers, more than 40 different nationalities represented,
of an average age of 31 years old and 35% women.

Women’s representation representation in leadership roles is a key focus
area for Gunvor and we continue to seek opportunities to further improve this
balance. In line with this commitment, our HR leaders are actively engaged in
various initiatives to empower women in our industry. As part of our dedication to promoting diversity, we are proud members of the Women’s International Shipping & Trading Association (WISTA International), a global organization formed in 1974. Through our association with WISTA, we actively participate in conferences, roundtables, and events aimed at promoting gender diversity and inclusivity. For instance, our HR leaders have been invited as speakers to roundtables such as the Women in Digitalization roundtable, where they share insights and best practices on empowering women in the digital age. We firmly believe that our involvement with organizations such as WISTA is just the beginning. We are committed to actively seeking out further opportunities to promote diversity and inclusion within our industry. We welcome the chance to join other similar associations, participate as guest speakers, or engage in any other initiatives aimed at fostering a more diverse and inclusive industry. In the last quarter of 2023, Gunvor SA, one of our Swiss entities (177 employees at the end of December 2023) has been certified Equal Pay (analysis conducted in accordance with Switzerland’s Federal Equal Pay Act). Our company upholds “equal pay for work of equal value” between women and men.

We encourage global mobility opportunities for our workforce as we believe that it reinforces the diversity of points of view within our company. This year, we significantly increased the numbers of international transfers. We are also working on creating programs with international rotations for some of our functions.

Across our offices, we experienced an overall 10.1% attrition rate with 5.9% voluntary leavers (2022: overall 17.2% and 12.1% voluntary leavers).

Please refer to the Human Capital Data Book found on page 100