Nomination & Remuneration Committee
The nomination and remuneration functions are carried out by the Nomination and Remuneration Committee. To clarify the implementation of each function, the Company separates the explanation of the nomination function and the remuneration function.
Nomination Committee
The Nomination Committee is a committee formed by and responsible to the Board of Commissioners in assisting the implementation of duties of the Board of Commissioners related to nomination function.
Members of the Nomination Committee are appointed and dismissed based on the decision of the Board of Commissioners with a term of office not exceeding the term of office of the Board of Commissioners, and can be reappointed.
According to OJK Regulation No. 34/POJK.04/2014 and the Charter of the Nomination Committee, the Nomination Committee consists of at least 3 (three) members, with the following conditions:
- 1 (one) Independent Commissioner acting as the chairperson
- Other members of the Nomination Committee may be member of the Company’s Board of Commissioner, person from outside the Company - provided that the person meets some required conditions.
Remuneration Committee
The Remuneration Committee is a committee established by the Company to assist the implementation of duties of the Board of Commissioners related to the remuneration function.
Members of the Remuneration Committee are appointed and dismissed based on the decision of the Board of Commissioners, with a term of service not exceeding the term of service of the Board of Commissioners and may be reappointed.
According to OJK Regulation No. 34/POJK.04/2014 and the Charter of the Remuneration Committee, the Remuneration Committee consists of at least 3 (three) members, with the following conditions:
- 1 (one) Independent Commissioner acting as the chairperson
- Other members of the Remuneration Committee may be member of the Company’s Board of Commissioner, person from outside the Company - provided that the person meets some required conditions.
The duties of the Nomination Committee, among others:
- Provide recommendation to the Board of Commissioners regarding the composition of the Board of Directors and the Board of Commissioners, policies and criteria in the nomination process, and performance evaluation policy for members of the Board of Directors and the Board of Commissioners
- Assist the Board of Commissioners in evaluating the performance of members of the Board of Directors and the Board of Commissioners based on benchmarks that have been prepared
- Provide recommendation on competency development program for members of the Board of Directors and the Board of Commissioners
- Provide proposal regarding candidates who meet the requirements to be appointed as members of the Board of Directors and/or Board of Commissioners to be submitted to the GMS
- Evaluate the prospective succession requirements for Directors submitted by the Board of Directors and/or the Board of Commissioners and/or the Ultimate Shareholders
- Provide mentoring and training recommendations for candidates for Directors succession and periodic review of the development of candidates for Directors succession (if needed)
- Provide recommendations to the Board of Commissioners to be submitted at the GMS (if the candidate passes the nomination process)
Duties of the Remuneration Committee, include the following:
- Provide recommendation to the Board of Commissioners regarding the structure, policy, and amount of remuneration for members of the Board of Commissioners and the Board of Directors
- Assist the Board of Commissioners in conducting performance evaluation commensurate to the remuneration received by each members of the Board of Commissioners and the Board of Directors