- With the purpose of securing independence of Board of Directors and strengthening Board of Directors-oriented responsible management
- By conducting a virtual conference online, first Board of Directors to be held by virtual method as part of social distancing due to the spread of COVID-19
On the 10th, Samsung Electro-Mechanics hosted its regular Board of Directors meeting.
On this day, the Board of Directors voted on amending regulations regarding the Compensation Committee, selection of committee members, and retirement pension insurance transaction with Samsung Life Insurance, a special affiliate.
□ Compensation Committee regulations amendment
- Previously comprised of 1 internal director and 2 external directors → Comprised of all 4 external directors, newly nominated Kim Joonkyung and Yuh Yoonkyung as external directors
- As a committee that approves the compensation limits for registered directors, the Compensation Committee will strengthen objectiveness and transparency in the director compensation process through this amendment
- Samsung Electro-Mechanics will comprise all sub-committees excluding the Management Committee with only external directors, strengthening the independence of the Board of Directors
※ Among the Samsung affiliates, companies that will comprise all sub-committees excluding the Management Committee with only external directors are Samsung Electronics and Samsung C&T, and companies that comprise all members of the Compensation Committee with external directors are Samsung Electronics, Samsung C&T, Samsung SDS, and Samsung Engineering
□ Endeavor to strengthen independence of Board of Directors and ensure responsible management
- In 2016, as the first among Samsung’s non-financial subsidiaries, we selected an external director as the Chairman of the Board of Directors
- Currently, external director Kim Yongkyun serves as the Chairman of the Board of Directors
□ As part of social distancing due to COVID-19, hosted first virtual online Board of Directors meeting
- In addition to President Kyung Kyehyun (CEO) and Vice President Kang Bongyong (Head of Management Support Department), all internal and external directors accessed the meeting online from each person’s own office, and the Board of Directors meeting was carried out via a virtual conference
- Deliberation based on active discussions were carried out similar to other Board of Directors meetings