Business
About Us
Sustainable Management - Governance Committees
Committee composition
There are two committees operating under the Board of Directors.
The Audit Committee audits accounting and major management tasks, evaluates the operation of the internal accounting management system, and supervises the execution of duties by directors and executives to support them in making reasonable management decisions.
The Committee for Recommending Outside Director Candidates recommends the final candidates after examining whether the candidates have qualifications such as independence and expertise as outside directors.
Committee composition
Current Committee Composition
●Chairperson ○Members
| Classificaiton | Name | Gender | Audit Committee | Committee for Recommending Outside Director Candidates |
|---|---|---|---|---|
| Internal Director | Keunman Kwak | Male | ||
| Other non-executive directors | Namhyuk Lee | Male | ||
| Sangil Lee | Male | |||
| Young-wook Ahn | Male | |||
| Outside Director | Taehyun Choi | Male | ○ | ● |
| Haechoon Park | Male | ● | ○ | |
| Sehyung Kim | Male | ○ | ○ |
Audit Committee
Overview
Purpose of establishment
The Audit Committee is a committee under the Board of Directors that is established to audit the company's accounting and operations, and to supervise and support management to ultimately achieve the maximum corporate value through checks and balances.
Composition
The Audit Committee is composed of three members selected from among the directors by resolution of the Board of Directors in accordance with the relevant regulations, and at least two-thirds of its members must be outside directors.
Currently, the Audit Committee of Solus Advanced Materials is comprised of three outside directors, all of whom are independent from the company.
Operation
Convocation and resolution
- Convocation procedure: The chairperson sets the meeting date and sends a convening notice to each member one day before the meeting date.
- Resolution requirements: Attendance of a majority of registered members, and approval by a majority of members present* (note: the committee can be held using a communication method that transmits and receives voice simultaneously)
Main authorities
- Audits the company's accounting and operations
- Requests reports on operations and investigates the company's financial status
- Selects external auditors
- Other authorities regarding matters granted to the Audit Committee pursuant to other laws, the company’s Articles of Incorporation, and resolutions of the Board of Directors
Committee for Recommending Outside Director Candidates
Overview
Purpose of establishment
The Committee for Recommending Outside Director Candidates is a committee under the Board of Directors established to recommend outside director candidates in accordance with the relevant laws, the company’s Articles of Incorporation, and the regulations of the Board of Directors.
This Committee verifies the capabilities of outside director candidates and whether they are independent of the company, and makes recommendations to the Board of Directors.
In order to maintain the independence of outside directors, the Board of Directors selects outside director candidates only from among those recommended by the Committee, which then receive final approval at the general shareholders' meeting.
Composition
The Committee for Recommending Outside Director Candidates shall be composed of three or more outside directors in accordance with the relevant regulations. Currently, this Committee consists of three outside directors who are independent from the company.
Operation
Convocation and resolution
- Convocation procedure: The chairperson sets the meeting date and sends a convening notice to each member one day before the meeting date.
- Resolution requirements: Attendance of a majority of registered members and approval of a majority of members present* (note: the committee can be held using a communication method that transmits and receives voice simultaneously)