Investor Relations
Nomination and Remuneration Committee

On 28 October 2007, the Board of Directors of the Company approved a set of principles in order to promote sound corporate governance (the “Corporate Governance Principles”). Pursuant to the Corporate Governance Principles, the Company has established, in addition to the required Audit Committee, a Nomination and Remuneration Committee, which is required to comprise no fewer than three members, at least two of whom must be non-executive directors of the Company.

The Nomination and Remuneration Committee is accountable to the Board of the Company and not to executive management of the Company. Mr Sarie El Din chairs the Nomination and Remuneration Committee and Mr Helal and Mr Mahmoud are the other two members of the committee, all of whom were appointed on 28 October 2007 and are non-executive directors of the Company. Under the Corporate Governance Principles, the primary functions of the Nomination and Remuneration Committee are to:

• make recommendations regarding board membership nominations by the Board of Directors to the shareholders’ meeting;
• perform periodic and ongoing reviews of whether the Directors have the requisite skills for the performance of their functions;
• evaluate the composition of the Board of Directors and make recommendations to the Board of Directors regarding the same for the Board of Directors to consider in proposals to the shareholders’ meeting;
• ensuring on regular basis, the independence of non-executive members and the absence of conflicts of interest in cases where the member is also a member of the board of another company;
• make recommendations of clear policies for the remuneration of Directors and executive management and referring to those standards regarding their performance in assessing such remuneration; and
• make recommendations regarding compensation for Directors and executive management.

 
 
Latest News

 
Enter your E-Mail to subscribe to our Newsletter
 
 
Want to recieve newsletter by
 
اختيار اللغة