Members of the Board of Directors involved in the activities of Board Committees focus on in-depth review and analysis of interrelated functions, issues, and areas. Committee meetings involve invited experts, business leaders, and other stakeholders. Committees make recommendations to the Board of Directors to support its decision making.
Roles and responsibilities of the Board Committees
Committee
Responsibilities
Strategy and Portfolio Management Committee
The Committee assists the Board of Directors by considering and making recommendations on:
the development strategy and investment policy, including priority areas;
improving investment attractiveness;
effective financial and business planning at KMG;
monitoring KMG’s transformation.
Nomination and Remuneration Committee
The Committee assists the Board of Directors by considering and making recommendations on:
succession planning for the Board of Directors and Management Board;
conducting ongoing, objective performance assessments of the Board of Directors, Management Board, Corporate Secretary, and other employees;
pursuing effective HR, pay and remuneration policies, and providing social support, professional development, and training opportunities for KMG officers and employees.
Finance Committee
The Committee assists the Board of Directors in pursuing an effective financial policy at KMG by considering and making recommendations on:
conducting an effective ongoing assessment of KMG’s financial position;
monitoring KMG’s leverage, financial structure, and financial strategy to achieve short-term and long-term strategic objectives and plans;
pre-reviewing and overseeing the implementation of investment projects.
Audit Committee
The Committee assists the Board of Directors by considering and making recommendations on:
implementing effective controls over KMG’s financial and business operations;
monitoring the reliability and effectiveness of internal controls and risk management, as well as the implementation of corporate governance regulations;
overseeing its external and internal audit functions;
reviewing the Company’s annual and quarterly financial statements;
monitoring KMG’s compliance arrangements.
Health, Safety, Environment and Sustainable Development Committee
The Committee was established towards the end of 2018 to assist the Board of Directors on:
ensuring HSE compliance;
embedding sustainability in strategic planning and social and economic development at KMG;
KMG’s social commitments and programmes under subsoil use contracts;