Governance
We are committed to transparent reporting in all aspects of our business, including around our ESG activities and goals progress
Our commitment to strong governance and risk management processes is clearly prioritized. We are dedicated to continuously looking for ways to improve these practices because they are essential to achieving our objectives and being a responsible organization.
Our board of directors, comprised of a majority of independent directors, is actively engaged in strengthening our governance practices and providing oversight of the Company’s strategic, operational, potential and actual risk and financial matters. This engagement enables the Board to fulfill its fiduciary duties to our stockholders and steer the long-term success of the Company. Our Board’s oversight extends to our ESG program. Biannually, the Nominating and Governance Committee, made up of independent directors, reviews our ESG reporting policies and activities and assesses our risk management in those areas. The Audit Committee regularly reviews and discusses the key risks identified in the Company's Enterprise Risk Management (ERM) program with leadership, their potential impact on us and our operations, and our risk mitigation strategies and related disclosure matters. These risks may be related to climate change, sustainability and other ESG-related matters. For more information on our governance management, please refer to our corporate ESG policy statements and 2023 Annual Report.
WBA is committed to creating and encouraging a safe environment for employees, customers, patients, contractors and suppliers across all our business segments. Dispensing and distributing pharmaceuticals is the most significant part of our business, with 62 percent of our sales in fiscal 2023 coming from the sale and distribution of prescription medications and pharmacy-related services. Millions of people count on us to safely dispense medications and we deliver on that promise every day. Patient safety lies at the heart of our management of pharmacy operations. We strive to be the industry leader by continuously seeking ways to minimize risks to patients in our dispensing and pharmacy services.
Additionally, product safety is the foundation to our commitment to our customers. We ensure our owned brand products — spanning health, beauty, home and cleaning products, food, paper goods and other categories — are rigorously analyzed for compliance with all applicable laws and regulations along with our own high performance, safety, and quality standards.
As of Dec. 8, 2023, the 11-member WBA board of directors was comprised of four female directors, one African American or Black director, one Asian director and one director who identifies as LGBTQ+. Thirty-six percent of the board are female and 100 percent of our board are over the age of 50.
We understand the importance of ensuring the integrity of data and the protection of our customers, patients, employees and Company information. The Company's security processes and controls for information technology (IT) systems and resources; our business; and employees, contractors and third parties help ensure the confidentiality, integrity and availability of our IT systems are maintained.
As a global healthcare leader and retailer, personal information is provided to WBA through purchasing and filling prescriptions, enrolling in promotional and loyalty programs, registering on our websites or otherwise communicating with us. We are committed to protecting patient and customer privacy and data with leading data protection standards.