What are Compensation Committee and Its Objectives?

What are Compensation Committee and Its ObjectivesCompensation committee is created to improve the efficiency and quality of the Board of Directors’ work. Its main function is preliminary consideration and development of recommendations to the Board of Directors in the field of forming an effective and transparent remuneration practice in the Company, in the field of personnel planning (succession planning) in the Company.

The Committee is established on a permanent basis by the decision of the Board of Directors of the Company and is an advisory body ensuring the effective performance by the Board of Directors of the Company and the executive bodies of the Company of their functions for the general management of the Company’s activities. The Committee is not a body of the Society and is not entitled to act on behalf of the Society. The decisions of the Committee are of a recommendatory nature for the Board of Directors.

The committee is obliged to:

Consider the following when determining compensation policies and methods:

Category: General