Page 176 - XL Axiata Integrated Anual Report 2020 ENG

174
2020 Integrated Annual Report
Principles
Recommendations
The Board of Commissioners
or Committee
that perform the Remuneration
and Nomination function formulate the succession policy in the nomination process of member of the Board of Directors.
Determination of total members
of the Board of Directors took into account on the condition of the Public Company
Determination on the composition of members of the Board of Directors has considered
on diversity of expertise, knowledge and required experience
Member of the Board of Directors in charge of accounting or finance has expertise and /
or knowledge in accounting field
Explanation On OJK Recommendations
Based on the provision of the Financial Services Authority Regulation No 34/POJK.04/2014 on the Nomination and Remuneration Committee of Issuer or Public Company, the committee that carries out the nomination function has the duty to formulate policies and criteria needed in the nomination process of prospective members
of the Board of Directors. One policy that can support the nomination process as intended is the succession policy of members of the Board of Directors. The policy on succession aims to maintain the continuity of the regeneration process or regeneration of leadership in the company in order to maintain business continuity and the company’s long-term goals.
As the Company’s organ that authorized in managing the Company, the determination
of total members of the Board of Directors
has significant impact to the Company’s performance. Thus, the determination of the total members of the Board of Directors must
be done through careful consideration and refer to the provisions of the applicable regulation, whereby based on Financial Services Authority Regulation No.33/POJK.04/2014 on The Baord
of Directors and Board of Commissioners of Public Company, shall at least consists of 2 (two) people. In addition, the determination of total members of the Board of Directors must be based on the need to achieve the objectives and purpose of public company and being adjusted to the conditions of the public company including the characteristic, capacity and size of the public company and effectivess of the decision-making by the Board of Directors.
Similar with the Board of Commissioners,
the composition diversity of members of the Board of Directors is a combination of required characteristic from both organ and individual perspective according to the needs of respective Public Company.
The combination is determined in view
of expertise, knowledge and experience
in accordance with segregation of tasks
and functions of the Board of Directors in achieving the purpose of the Public Company. Thus, consideration of the combination of characteristics will have an impact on the accuracy of the collegial nomination and appointment of individual member of the Board of Directors or Directors.
The Financial Report is a management accountability report for resources management owned by the Public Company, which must be compiled and presented in accordance with Financial Accounting Standards in Indonesia
as well as related OJK regulations, including regulation in the Capital Market sector which regulates the presentation and disclosure of Public Company Financial Statement. Based on the laws and regulations in the Capital Market sector that regulates the responsibility of the Board of Directors for the Financial Report, the Board of Directors is jointly responsible for the Financial Report, signed by the President Director and member of the Board of Directors in charge of accounting or finance.
Comply
The Company has in place the Succession Policy which is used and as reference to the nomination process of the Board of Directors.
The composition of the Board of Commissioners of the Company is adjusted based on the need of the Company.
Each candidate for the Board of Commissioners must first be thoroughly and properly examined
by the Nominating and Remuneration Committee of the Company.
Each member of XL
Axiata Board of Directors has diverse expertise to maximize the management duties of the Board of Directors in accordance with the Company’s business scope.
Information pertaining with the background as well as skill of each member of XL Axiata Board of Directors is available in the Company’s website (www.xlaxiata.co.id).
Currently the Director of XL Axiata in charge for accounting or finance is held by Mr. Budi Pramantika who has the following educational background:
A Master of Business Administration from IPMI International Business School, Jakarta, Indonesia (2004), and Bachelor of Accounting from University of Indonesia, Jakarta, Indonesia (1997).
CORPORATE GOVERNANCE
Principle 5
Strenghten the membership composition of the Board of Directors
PT. XL AXIATA TBK
TRANSFORM FASTER TO EMERGE STRONGER – GIVING BACK TO THE NATION