Leggett & Platt believes being a responsible corporate citizen includes our being an effective participant in the legislative and regulatory process. Because public policy issues have the potential to significantly impact our business, people and communities, the Company uses its resources to advance policies that are consistent with the sustainability of our business and our values.
Political contributions are made in accordance with the Company’s Political Contribution Policy, only as permitted under federal, state, and local laws, to help elect candidates who demonstrate integrity and character and support pro-manufacturing policies. Other factors considered include:
- the candidate’s view on issues relevant to the Company, its shareholders, customers, and employees;
- the candidate’s leadership positions;
- the Congressional committees on which the candidate serves; and
- the candidate representation of a jurisdiction where the Company has an employee presence or other interest.
All political spending reflects our interests as a Company and not those of any individual director, officer or employee. Our activities meet high ethical standards and are done in accordance with Company procedures and guidelines.
The Company also maintains a political action committee – supported entirely by voluntary employee contributions – that makes political contributions where permitted by law to support political candidates and political organizations or ballot measures that are committed to economic development, free enterprise, and good government.
We lobby ethically, constructively, and in a bipartisan manner through communication with public officials and adhere to all state and federal laws regarding disclosure of corporate contributions for political activities and L&P PAC contributions.
Corporate and PAC contributions are reviewed by legal counsel for compliance with applicable campaign finance and related laws, and are approved by the Company’s Political Participation Committee, comprised of the Chief Executive Officer, Chief Operating Officer, and Director of Government Affairs.
The Company conducts regular trainings, compliance reviews, and internal audits to ensure all PAC and corporate political contributions are made in accordance with the law and Company policies.
The Board of Directors annually reviews the Company’s Political Contribution Policy as well as a comprehensive report of public policy advocacy efforts and all political spending (including to trade associations or other organizations engaging in political activity) to ensure alignment with Company policy and our overall values.
Employees are not authorized to make political contributions on behalf of L&P, including, but not limited to, monetary or in-kind contributions, or the use of corporate resources, email, personnel or facilities, without obtaining prior approval from the Political Participation Committee and the Legal Department.