Nomination and Remuneration Committee
As of December 31, 2021, the Company did not have a Nomination and Remuneration Committee as the supporting organ for the supervisory role of the Board of Commissioners. However, the nomination and remuneration functions are still carried out by the Board of Commissioners through the approval of the GMS.
The Board of Commissioners of the Company carries out the nomination and remuneration functions through the stages of the procedure, in accordance with the provisions of the applicable regulations/laws. The Nomination and Remuneration function is carried out by the Company’s Board of Commissioners to carry out its duties and responsibilities related to:
1. Nomination function for the Board of Commissioners and the Board of Directors by:
- Recommending systems and procedures for the appointment and/or replacement and succession of members of the Board of Commissioners and the Board of Directors;
- Identifying candidates and reviewing the nominations of members of the Board of Directors and Board of Commissioners to be submitted to the GMS for shareholder approval;
- Identifying independent parties as members of the Company’s Committees (if any).
2. Remuneration function for members of the Board of Directors and Board of Commissioners as well as Senior Management if required, through:
- Recommending remuneration structures and policies for the Board of Commissioners and the Board of Directors and if necessary, for the Company’s Senior Management;
- Reviewing, evaluating, and recommending the remuneration of the Board of Commissioners, Board of Directors, Independent Parties, and if necessary, certain Senior Management.