Two permanent committees, the Audit Committee and the Remuneration Committee, assist the Board of Directors.
The Board of Directors elects the committee members and appoints the committee chairmen. A quorum is more than half the members. Members are appointed for a one-year term of office, which expires at the end of the first Annual General Meeting following the election. The Board confirms the central duties and operating principles of both committees in a written charter. The committees report on their work to the entire Board of Directors on a regular basis. These reports include a summary of relevant matters addressed and measures taken by the committee.
In addition, the General Meeting of Shareholders of Cramo Plc resolved to establish a Shareholders’ Nomination Committee in 2015, in accordance with the proposal of the Company’s Board of Directors.
Further information on the Committee meetings as well as the attendance of the members at the meetings in 2018 is provided in the Corporate Governance Statement 2018.