Currently, the Company has not established a Nomination and Remuneration Committee, by considering that the nomination and remuneration function can be carried out by the Board of Commissioners optimally. In addition, the Company also considers several aspects, such as effectiveness, efficiency, and complexity of the Company’s business.
The Board of Commissioners’ duties and responsibilities with regard to the nomination and remuneration functions are as follows:
- Arranging the composition of and nomination process for members of the Board of Directors and/or the Board of Commissioners.
- Formulating nomination policies and criteria for prospective members of the Board of Directors and/or the Board of Commissioners as well as performance evaluation policies.
- Evaluating the performance of members of the Board of Directors and/or the Board of Commissioners.
- Preparing capacity development programs for members of the Board of Directors and/or the Board of Commissioners.
- Reviewing and proposing candidates who meet the requirements as members of the Board of Directors and/or the Board of Commissioners to the GMS.
- Formulating and evaluating remuneration of structures, policy, and amount for members of the Board of Directors and/or the Board of Commissioners on an annual basis.