The board will use a formal and transparent board nomination process, including candidate nomination, approval and appointment. A. Nomination.
The board will identify appropriate candidates, whose skills would complement those of existing members; in addition to others who may nominated by other means. B. Approval. Candidates nominated by the board should be voted on by the shareholders. Fair representation of minority shareholders must be ensured by cumulative voting. Information on the nominees should be disclosed to shareholders sufficiently early before the shareholder meeting expected to vote on the nominations. C. Appointment. Upon election result, newly selected Directors should receive a formal letter, outlining their role and responsibilities, required time commitment, compensation as well as rules regarding conflicts of interest, confidentiality, induction program, evaluation and access to resources.
3.2 Directors orientation regarding company matters
3/2/1 The newly elected Directors should acquire appropriate skills and knowledge upon appointment – they should receive full, formal and tailored induction of the company’s affairs.
2.1 Selection of Directors
The board will use a formal and transparent board nomination process, including candidate nomination, approval and appointment. A. Nomination. The board will identify appropriate candidates, whose skills would complement those of existing members; in addition to others who may nominated by other means. B. Approval. Candidates nominated by the board should be voted on by the shareholders. Fair representation of minority shareholders must be ensured by cumulative voting. Information on the nominees should be disclosed to shareholders sufficiently early before the shareholder meeting expected to vote on the nominations. C. Appointment. Upon election result, newly selected Directors should receive a formal letter, outlining their role and responsibilities, required time commitment, compensation as well as rules regarding conflicts of interest, confidentiality, induction program, evaluation and access to resources.
3.2 Directors orientation regarding company matters
3/2/1 The newly elected Directors should acquire appropriate skills and knowledge upon appointment – they should receive full, formal and tailored induction of the company’s affairs.
The induction should include:
A. Meetings with management team members and shareholders; B. Visits to company sites; C. Information on the company, its business, market and competitors, products/services, structures and key processes, financial situation, major risks, key performance indicators and regulatory constraints; D. Information on shareholders and shareholders relations’ policy. E. The Directors should participate in education programs in order to keep up to date and upgrade the skills necessary for effective participation in the Board.
A. Meetings with management team members and shareholders; B. Visits to company sites; C. Information on the company, its business, market and competitors, products/services, structures and key processes, financial situation, major risks,
key performance indicators and regulatory constraints; D. Information on shareholders and shareholders relations’ policy. E. The Directors should participate in education programs in order to keep up to date and upgrade the skills necessary for effective participation in the Board.
