Succession Planning and Remuneration Policy
The Governance, Remuneration, Nomination and Sustainability Committee (“GRNSC”) is in-charge of overseeing the establishment of formal procedures for the development of a policy on the succession planning and remuneration for Directors and Officers. The Company ensures that the remuneration is sufficient and competitive with other similar industries, through market salary surveys, to be able to attract those who are qualified and competent, as well as retain them. from participating in deciding his own remuneration.
This Policy aims to ensure the systematic and long-term development of individuals in the senior management level as ready replacement when the need arises due to deaths, disabilities, retirements and other unexpected occurrence. It applies to the succession planning and remuneration of the Board of Directors, Key Management Personnel and Senior Management Team members as defined and identified by the GNRSC.Download PDF