Rexon’s "Articles of Incorporation" stipulates the comprehensive candidate nomination system for the election of directors. The "Corporate Governance Best Practice Principles" and "Director Election Rules" specify that the Board of Directors should consider diversity and formulate appropriate diversity policies based on its own operations, business model, and development needs. These policies may include considerations such as basic attributes and values (e.g., gender, age, nationality, and culture), professional backgrounds (e.g., legal, accounting, industry, finance, marketing, or technology), professional skills, and industry experience.
Board Diversity Policy
Professionality and Independence of Board of Directors
The Board of Directors adopts a candidate nomination system, where all director candidates are nominated and undergo qualification review. Upon approval by the Board of Directors, the candidates are presented for election at the shareholders' meeting.
In accordance with Article 20 of the “Corporate Governance Best Practice Principles,” board members should possess the necessary knowledge, skills, and qualifications required to fulfill their duties. In order to achieve the ideal goals of corporate governance,
the Board as a whole should possess the following abilities:
- Ability to make judgments about operations.
- Accounting and financial analysis ability.
- Business management ability.
- Crisis management ability.
- Knowledge of the industry.
- International market perspective.
- Leadership ability.
- Decision-making ability.
Diversity of Board of Directors
To enhance the governance of the Company and promote the sound development of the Board’s formation and structure, Article 20 “Diversity Policy of Board Members” in “Corporate Governance Best Practice Principles” that the Company established in 2017 states that diversity shall be taken into account for the formation of the Board of Directors and an appropriate policy of diversity shall be devised based on the operations, type of business and development requirements, such as basic requirements and values (e.g. gender, age, nationality, and culture), professional background (e.g., law, accounting, industry, finance, marketing, technology), professional skills, and industry experience.
The current Board of Directors is composed of 9 directors, including 5 directors and 4 independent directors. The Board members have extensive experience and professionalism in the fields of law, business, and management. The equity of gender in the formation of the Board of Directors is another concern of the Company. The goal of the female director ratio is set to more than 10%. Currently, one of the nine directors is female at a ratio of 11%.
