Framework for Effective Corporate Oversight and Board Structure #
ASSOMA is committed to building a robust and systematic approach to corporate governance, with a strong focus on protecting shareholders’ rights and interests. We recognize that a sound and efficient board of directors forms the cornerstone of effective governance.
Governance Principles and Structure #
Our governance model is designed to ensure transparency, accountability, and strategic oversight. The board of directors is supported by specialized committees, including the audit committee and the wages committee, both of which are established by the board and empowered to assist in fulfilling supervisory responsibilities. The chairpersons of these committees regularly report their activities and decisions to the board, ensuring clear communication and alignment with organizational goals.
The board of directors also plays a key role in supervising and advising on the execution of corporate sustainability strategies, reinforcing our commitment to long-term value creation.
Corporate Governance Structure #
The governance framework at ASSOMA consists of the following key components:
- Shareholders’ Meeting: The highest authority, representing the interests of all shareholders.
- Board of Directors: Responsible for major decision-making, supervision, and strategic guidance.
- Audit Committee: Oversees financial reporting, internal controls, and compliance.
- Wages Committee: Handles matters related to compensation and performance evaluation.
- Management Team: Executes the strategies and policies set by the board.
- Corporate Governance Chairperson: Ensures adherence to governance standards and best practices.
- Internal Audit: Provides independent assurance on the effectiveness of risk management and internal controls.
Key Roles and Responsibilities of the Board of Directors #
- Voting on significant corporate decisions
- Supervising the activities of committees and the management team
- Evaluating performance and managing the appointment or removal of managers
- Providing strategic guidance and support to the management team
This structured approach enables ASSOMA to maintain high standards of corporate governance, fostering trust among stakeholders and supporting sustainable business growth.