Board committees
du's Board of Directors maintains three committees to assist it in discharging its oversight responsibilities:
An audit committee, an investment committee and a nomination and remuneration committee. The Board may add new committees or remove existing committees as needed to fulfill its responsibilities.
The directors who serve on each of the three committees are independent. In determining the independence of a director, the Board of Directors applies the definition of "independent director" used in the Ministerial Resolution No 518 of 2008 concerning Corporate Governance and Corporate Discipline Standard as well as applicable laws and regulations. The Board will also consider other relevant facts and circumstances bearing on independence.
Audit Committee
The principle roles of the Audit Committee are to monitor the Company's financial statements, to renew and recommend changes to the Company's financial and control systems and to maintain an appropriate relationship with the Company's external auditors.
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Invitees: CEO, CFO, Head of Internal Audit and Company Secretary
Nomination and Remuneration Committee
The role of the Nomination and Remuneration Committee is to set the policy for remuneration of the executive management, determine targets for performance related pay and determine the total individual package of each executive director (if any), including salary, bonuses, pensions and incentive schemes.
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Invitees: CEO, Chief Human Resources and Company Secretary
Investment Committee
The role of the Investment Committee is to review and approve the Company's investment strategy in relation to core and non- core business.
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Invitees: CEO, CFO, Chief Strategy and Investment and Company Secretary