To strengthen the professionalism of the Board of Directors, OCI appoints professionals in chemistry, law, accounting and finance as directors by considering their careers, specialization, interests and concurrent positions with other companies. Furthermore, OCI strives to maintain diversity in gender, age, race, ethnicity, and nationality.
Regulation on the Board of DirectorsOCI conducts annual surveys to evaluate the performance of its Board members, committees, and independent directors. Based on the evaluation results, OCI formulates improvement plans for the operation of the Board and its committees. These plans are then reported to the Board to ensure that the Board and its committees operate more independently and professionally.
| Category | Number of questions | Key assessment questions | Score (out of 5 points) |
|---|---|---|---|
| BOD Roles and Responsibilities | 5 | Is the Board of Directors performing its duties fairly and in the best interests of all shareholders, including minority shareholders? Does the Board have a clear and proper understanding of its responsibility to oversee management? | 4.92 |
| BOD Structure | 4 | Is the current size of the Board appropriate for effective discussions and activities? Is the Board composed of a diverse range of members in terms of gender, age, and areas of expertise? | 4.80 |
| BOD Independence | 3 | Do the Board and management understand and respect each other's authority and responsibilities? Are directors able to freely express amendments or dissenting opinions? | 5.00 |
| BOD Operation and Agenda | 9 | Is the Board convened regularly and appropriately to perform its duties diligently? Do the Board members provided with sufficient time and materials in advance regarding the Board's agenda items? | 4.89 |
| Category | Number of questions | Key assessment questions | Score (out of 5 points) |
|---|---|---|---|
| Audit Committee | 7 | Are the Audit Committee meetings convened appropriately to efficiently perform their duties? Does the Audit Committee conduct audits on accounting and operations and faithfully report the results to the General Shareholders' Meeting? | 4.96 |
| Remuneration Committee | 6 | Committee operations: structure, frequency, and level of expertise | 4.85 |
| Director Nomination Committee | 6 | 4.85 | |
| Internal Trading Committee | 6 | 4.90 | |
| ESG Committee | 6 | 4.84 |
| Category | Number of questions | Key assessment questions | Score (out of 5 points) |
|---|---|---|---|
| Independent Directors' Self-Evaluation | 10 | Have I performed my duties fairly and diligently, prioritizing the interests of the Company and all shareholders? Have I actively participated in Board and committee meetings and adequately prepared in advance, including thoroughly reviewing materials circulated prior to meetings? | 4.89 |