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Corporate governance
- Letter from the president
- Management Board
- Supervisory Board
- Shareholder Meeting
- Restrictions regarding the exercise of voting rights
- Restrictions on the transfer of ownership title to securities
- Representation on the application of corporate governance principles
- Identification of the set of corporate governance rules being applied
- Identification of corporate governance rules not applied
- Description of the rules for amending the Articles of Association of JSW S.A.
- JSW S.A. information policy and communication with the capital market
My report
- Add to my report
- View my report
Principles of appointment
According to the Articles of Association of JSW S.A. the Management Board consists of three to six members. On 26 April 2010, the Shareholder Meeting set the number of JSW S.A. Management Board Members of the 7th term of office at five members.
The current seventh term of office of the JSW S.A. Management Board expires on the date of the Ordinary Shareholder Meeting approving the financial statements for the financial year 2012.
Management Board members are appointed for a joint term of 3 years. The mandate of a Management Board member appointed before the end of the term of office of the Management Board expires simultaneously with the expiry of the mandates of the remaining Management Board members.
If the average annual headcount in the Company exceeds 500 employees one Management Board member shall be elected by the Company employees, in accordance with the election bylaws adopted by the Supervisory Board. Result of the election is binding for the body empowered to appoint the Management Board, i.e. the Supervisory Board. Lack of election of a Company employee representative to the Management Board shall not hinder the Management Board from adopt binding resolutions. Upon request of at least 15% of all the Company employees, a ballot shall be held to dismiss the Management Board member elected by employees. Such dismissal, death or other important reasons that decrease the number of Management Board members by the member elected by employees shall require supplementary elections.
Detailed regulation of this matter is included in the JSW S.A. Articles of Association available on the JSW S.A. corporate website.
Management Board Members are appointed and dismissed by the Supervisory Board. A Management Board member shall submit a resignation in writing to the Supervisory Board at the address of the registered office of JSW S.A.
