Corporate Governance Structure
BOD determines the direction of operations and undertakes operational risks. Supervisors assist BOD in making decisions through division of labor and independent operation. The Remuneration Committee is an independent body established to establish and review the remuneration body of directors and managers; develop a healthy remuneration management system; and optimize the governance framework. Under the president there are divisions including the Administration Division, Accounting Division, Financial Division, Business Division, Engineering & Materials Division, Marine Division, and OHS Office. The network-based flat organization management is adopted to enhance information delivery and work efficiency.
BOD and Supervisors
Directors are elected based on the member diversification policy (resolution made at the 6th meeting of the 17th BOD on May 3, 2017). Directors should be equipped with the competencies in operation judgment, accounting and financial analysis, operational management, crisis handling, industrial knowledge, international market view, leadership, and decision-making.
Currently, BOD has nine members (including two independent directors) and three supervisors. The current term commenced on June 6, 2016 and will end on June 8, 2019, for a term of three years. In 2018, a total of four board meetings and four meetings of supervisors were held, with an attendance rate of 94% and 92% respectively. All directors and supervisors constantly take comprehensive extension education courses to enrich their expertise. The training length in 2018 was up to 98 hours. Conservatively speaking, the 2018 self-assessment of was 4.58 marks (out of five), 0.21 marks lower than that of 2017.
Certificate of Corporate Governance System
U-Ming has been awarded the Certificate of Corporate Governance System CG6005 from Taiwan Corporate Governance Association (TCGA).
Certificate of Corporate Governance System CG6005