Performance Evaluation of Functional Committees
In order to implement corporate governance, the board of directors approved the amendment to the "Procedures for Performance Evaluation of the Board of Directors" on January 25, 2024, and implements internal performance evaluation for the functional committees at least once a year. By clearly defining performance targets, the functions and efficiency of the functional committees are enhanced.
Functional Committees’ Performance Evaluation Implementation Status
|
Evaluation Cycle |
Evaluation Period |
Evaluation Scope |
Evaluation Method |
Content of Evaluation |
Evaluation Results and Comments |
|
Annual |
20230101~ 20231231 |
Audit Committee |
Internal self-evaluation of the functional committee "Self-evaluation Questionnaire for Functional Committee Performance" |
A total of 22 evaluation indicators are included in the five aspects of participation in the Company’s operation, awareness of the functional committees’ duties, enhancement of the quality of the functional committees’ decision-making, composition and election of the functional committees, and internal control. |
【96 points】All committee members are able to timely and professionally provide objective recommendations for discussion on various agenda items. |
|
Annual |
20230101~ 20231231 |
Compensation Committee
|
A total of 19 evaluation indicators are included in the four aspects of participation in the Company’s operation, awareness of the functional committees’ duties, enhancement of the quality of the functional committees’ decision-making, and composition and election of the functional committees. |
【93 points】All committee members uphold their professionalism and independence in providing effective and objective recommendations to the board of directors on issues related to compensation systems and other related matters. It is suggested to establish a specific succession plan and a scheduled timeline for Board members and senior executives to ensure seamless leadership transitions. The Company has already developed a succession and development plan for the Chairman and senior executives, which has been disclosed on the company’s website. |
|
|
Annual |
20230101~ 20231231 |
Sustainability Development Committee |
A total of 17 evaluation indicators are included in the four aspects of participation in the Company’s operation, awareness of the functional committees’ duties, enhancement of the quality of the functional committees’ decision-making, and composition and election of the functional committees. |
【95 points】The Company has shown year-on-year improvements in various international sustainability rankings. The corporate governance evaluation results also consistently rank within the top 6-20% among industry peers. This indicates that the Corporate Sustainability Development Promotion Committee has effectively fulfilled its functions. |
Ø The evaluation items of the functional committees in 2023 is in effective operation, and the evaluation results has been reported to the board meeting on March 14, 2024.