The Board of Commissioners (BOC) is an organ of the company that supervises the Board of Directors (BOD) policies and advises the BOD in exercising its management duties.The BOC works in accordance with the company’s Board of Commissioner Charter and the Code of Conduct. The BOC Charter sets out the binding guidelines for every BOC member to perform their duties and responsibilities effectively and in accordance with good corporate governance principles.
In general, the main duties of the BOD are as follows:
Based on Articles of Association, the BOC shall consist of at least three members, whose appointment and dismissal are carried out through the GMS. The BOC’s service tenure is five years and shall end at the closing of the fifth AGM after the date of the appointment. The BOC member whose tenure has ended, could be reappointed or replaced through the GMS after considering the recommendation from Nomination and Remuneration Committee. An Independent Commissioner who has served for two terms of tenure could be re-appointed for the following terms after he/she declares his/her independency to the GMS.
As resolved at the AGM on 15 Juli 2020, the BOC consists of seven members who hold their position until 2025 AGM. Three of the BOC members are Independent Commissioners. This follows the regulations of the Financial and Services Authority (OJK) and Indonesia Stock Exchange, which require more than 30 percent of BOC members to be Independent Commissioners.
The members of BOC currently are as follow: