Governance | Succession plans for post Group CEO and other executives
Our Company is constantly striving to develop and select the next generation of management in order to ensure the sustainable development of the company. The Group CEO reports his succession plans to the Nominating Committee each year. The succession plan includes ideas about the qualifications required to be the Group CEO, a business execution system that considers business environment and cultivating successors, an assessment of the current business execution system, and specific succession plans. The Nominating Committee discusses succession plans and their implementation from an independent and objective perspective. Based on the report of the Nominating Committee, the Board of Directors decides on the appointment of the Group CEO and other Executive Officers. On the other hand, the Board of Directors dismisses the Group CEO and other executive officers when it deems it appropriate to dismiss them immediately, for example, when it determines that the Group CEO or other executive officers may not be able to fulfill their duties sufficiently.