The 14th Committees
The 15th 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 | Sustainable Development Committee | Related Professional abilities |
|---|---|---|---|---|---|
| Chairman | K.C. Liu | V (Convener) | Sustainability Management | ||
| Director | Advantech Foundation. Representative Chaney Ho | Business capability | |||
| AIDC Investment Corp. Representative: Donald Chang | V | Transnational operations | |||
| K and M Investment Co., Ltd. Representative: Wesley.Liu | Business capability | ||||
| Independent Director | Jeff Chen | V | V (Convener) | V | M&A strategy execution and Transnational operations |
| Benson Liu | V (Convener) | V | Accounting and financial analysis and Corporate Governance | ||
| Chan-Jane Lin | V | Accounting and financial analysis | |||
| External Professional consultant | Joseph Yu | V | Salary and Performance management |
Audit Committee
Chairperson: Independent Director Benson Liu
Members: Independent Director Jeff Chen, Independent Director Chan-Jane Lin
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:
- Formulate, review or validly assess the internal control system.
- 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.
- Potential conflicts of interests involving directors.
- Material asset or derivatives transactions.
- Material lending funds, endorsements or guarantees.
- Offering or issuance of any equity-type securities.
- Hiring or dismissal of an attesting CPA, or the compensation given thereto.
- Appointment or discharge of financial, accounting, or internal auditing officers.
- Review annual financial report.
- Review business reports and surplus distribution or loss appropriation.
Compensation Committee
Chairperson: Independent Director Jeff
Chen Members: Independent Director Benson Liu , Professional Committee Joseph Yu
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
- Make and regularly check the performance appraisal and compensation policy, system, standard and structure of directors, supervisors and managers.
- Regularly appraise and determine compensation for directors, supervisors and managers.
- 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.
Sustainable Development Committee (SDC)
Chairperson: Director K.C. Liu
Members: Director Donald Chang, Independent Director Jeff Chen
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 Sustainable Development Committee are described below:
- Formulate and regularly review the strategic objectives related to corporate sustainable development and the promotion of specific performance execution.
- Implement and promote corporate social responsibility-related work by regularly calling meetings and reporting the execution status to the Committee.
- Nominate the candidates for directors and senior managers.
- Formulate and regularly review the successor programs for directors and senior managers.
- Other responsibilities are instructed to the Committee through the resolution reached by the Board of Directors.
