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PostGovernance
Summary
HYUNDAI WIA's corporate governance structure promotes
transparent and responsible management under the supervision of a professional and independent board of directors. By doing our best to promote balanced rights and interests of stakeholders such as shareholders, customers, employees, and partners, we want to open up a sustainable future.
Whether the corporate governance structure's model standard recommendations have been adopted or not
| Model Standard Recommendations | Adopted or not | Note |
|---|---|---|
| Introduction of the Corporate Governance Charter | O | |
| Introduction of corporate and employee ethics regulations | O | |
| Introduction of the intensive voting system | X | Exclusion of the introduction of the intensive voting system in accordance with Article 26 of the Articles of Incorporation(Appointment of Directors) |
| Providing shareholders in advance with information on shareholder's meeting | O | |
| Establishment of the board of directors(outside directors are a majority) | O | 4 independent directors |
| Seperation of CEO and Chairman of the Board of Directors | X | In accordance with regulations of the board of directors, the CEO leads the board |
| Disclosure of the board's activities, attenance rate, and pros and cons of major agendas | O | |
| Establishment of the independent director candidate recommendation committee | O | 2 independent directors |
| Establishment of the compensation committee composition | O | Establishment of remuneration committee on Oct, 2020 |
| Establishment of the audit committee | O | 3 independent directors |
| Disclosure of the composition and role of commitees within the BOD and activities | O | |
| Introduction and disclosure of operating regulations of the board of directors and committees | O | |
| Insurance of directors' liability for damage at company expense | O | |
| Evaluation of the activities of the board of directors | O | Conducting Board Operations Evaluation |
| Maintaining the independence of external auditors | O | |
| Certification of accuracy and completeness of financial reports by the CEO and financial officer | O | |
| Explanation of the difference from the best corporate governance standards | O | |
| Disclosure of audit reports and important occasional notices | O |
※ The corporate governance structure's model standards refer to standards presented by the Korea Corporate Governance Service.
