The Board of Commisioners have been authorized by Shareholders to determine remuneration for Board of Commissioners and Directors, taking into account, the result of Company’s performance and evaluation of each member’s job performance. The Company also evaluates the policies, and remuneration structures periodically of the members of the two Boards. There are several steps in determining the total remuneration for Board of Commissioners and Directors:
Reviewing on Company’s performance results;
Reviewing the performance of each member;
Reviewing the total amount proposed based on performance review.
Following the above steps, the Board of Commissioners will decide the total remuneration which will be approved in Board of Commissioners’ Meeting. The Board of Commissioners, in turn, will secure the approval of the shareholders in the annual General Meeting of Shareholders (GMS).
Within GMS, Shareholders also gave the Board of Commissioners the authority to determine and decide the total remuneration for Board of Directors.
The composition of remuneration package are the following: