|Performance Evaluation of the Board and Functional Committees
The Company's Board of Directors has approved the "Methods to Evaluate Performance of the Board of Directors" on January 25, 2017. The members of the Board of Directors and functional committees and the responsible departments for Board of Directors meetings has processed internal performance evaluation on the “Board of Directors”, “Audit Committee”, and “Remuneration Committee”.
The scope of the assessment of the Board of Directors includes 45 indicators that fall under five aspects: level of participation in Company operations, enhancing quality of decision-making from the Board, composition and structure of the Board, nomination of Directors and continuing education as well as internal control. The scope of the assessment of the Audit Committee and Remuneration Committee include 23 and 19 indicators respectively that also fall under five aspects: level of participation in Company operations, Duties understanding of the functional committees, enhancing quality of decision-making from the functional committees, composition and nomination of the functional committees as well as internal control. Performance evaluation on the “Board of Directors”, “Audit Committee”, and “Remuneration Committee” were processed respectively and the assessment results will be classified into three levels: Exceeding Expectations, Meets Expectations, and Room for Improvement.
|External Assessments Evaluated by Taiwan Corporate Governance Association
In 2018, the Company has commissioned Taiwan Corporate Governance Association to carry out an external assessment of the Board’s efficacy, especially with regard to eight aspects of the Board: composition, leadership, authority, supervision, communication, internal control and risk management, self-discipline and supportive systems. The assessment is carried out through an online questionnaire and site visits.