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Committees

Improve the supervisory responsibility of the Board of Directors and strengthen the mechanism for managing organization operation, Advantech established functional committees under the Board of Directors, including the “Audit Committee,” “ Compensation Committee” and “Corporate Sustainable Development Committee.”

Title Name Audit Committee Compensation Committee Corporate Sustainable Development Related Professional abilities
Chairman K.C. Liu V (Convener) Sustainability Management
Director Advantech Foundation. Representative Chaney Ho
AIDC Investment Corp. Representative: Donald Chang V Business Capability
K and M Investment Co., Ltd. Representative: Wesley.Liu
Independent Director Jeff Chen V V V M&A strategy execution and Business Capability
Benson Liu V (Convener) V Financial Accounting and Corporate Governance
Chan-Jane Lin V Financial Accounting
Professional Committee Joseph Yu V Salary and Performance management

Audit Committee

Chairperson: Independent Director Benson Liu
Members: Independent Director Jeff Chen, Independent Director Chan-Jane Lin
In May, 2017, Advantech formed Audit Committee to replace the Supervisory Board in order to further enhance corporate governance responsibilities of Board Members and strengthen Board Operation. The audit committee is comprised of all Independent Directors and at least one of them is expert in finance or accounting.

The major responsibilities of the Audit Committee are described below:

  1. Formulate, review or validly assess the internal control system.
  2. Formulate or revise the acquisition or disposal of assets, engagement in derivative commodity transactions, fund loaning to others, and the processing procedures for conducts in material financial operations such as endorsement for others or provision of a guarantee.
  3. Potential conflicts of interests involving directors.
  4. Material asset or derivatives transactions.
  5. Material lending funds, endorsements or guarantees.
  6. Offering or issuance of any equity-type securities.
  7. Hiring or dismissal of an attesting CPA, or the compensation given thereto.
  8. Appointment or discharge of financial, accounting, or internal auditing officers.
  9. Review annual financial report.
  10. Review business reports and surplus distribution or loss appropriation.

Communications of Independent Directors with Internal Auditors and CPAs

20222021

Audit Committee meeting resolutions

20222021

Compensation Committee

Chairperson: Independent Director Jeff
Chen Members: Independent Director Benson Liu , Professional Committee Joseph Yu
The Remuneration Committee is responsible for improving corporate governance and strengthening the remuneration management power of the board, as well as assessing and determining the compensation level of directors, supervisors and managers. 

When executing the above powers, the Remuneration Committee should follow these principles

  1. Make and regularly check the performance appraisal and compensation policy, system, standard and structure of directors, supervisors and managers.
  2. Regularly appraise and determine compensation for directors, supervisors and managers.
  3. According to corporate goals, operating performance, economic conditions and other elements, irregularly checking the compensation policy, system, standard and structure of directors, supervisors and managers.

Main Points of Discussion by the Compensation Committee

20222021

Sustainable Development Committee (SDC)

Chairperson: Director K.C. Liu
Members: Director Donald Chang, Independent Director Jeff Chen
To actively promote and strengthen corporate governance related to the corporate sustainability, ESG development, and corporate social responsibility, the Advantech established the "Sustainable Development Committee" (SDC) under the board of directors on July 29, 2022.

Responsibilities of the Corporate Sustainable Development Committee are described below:

  1. Formulate and regularly review the strategic objectives related to corporate sustainable development and the promotion of specific performance execution.
  2. Implement and promote corporate social responsibility-related work by regularly calling meetings and reporting the execution status to the Committee.
  3. Nominate the candidates for directors and senior managers.
  4. Formulate and regularly review the successor programs for directors and senior managers.
  5. Other responsibilities are instructed to the Committee through the resolution reached by the Board of Directors.

Main Points of Sustain Development Committee (SDC)

2022