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NOMINATIONS AND REMUNERATION COMMITTEE

The Nominations and Remuneration Committee is established by and responsible to the Board of Commissioners in assisting the functions and duties of the Board of Commissioners in regard to nominations and remuneration for members of the Board of Directors and members of the Board of Commissioners.

Duties and Responsibilities of the Nominations and Remuneration Committee

Based on Regulation of the Financial Services Authority No. 34/POJK.04/2014 concerning the Nominations and Remuneration Committee for Issuers of Securities or Public Companies, the duties and responsibilities of the Nominations and Remuneration Committee related to the functions of nominations and remuneration are as follows:

- Duties and responsibilities related to the nominations function as follows:

  1. Provide recommendations to the Board of Commissioners concerning the:
  2. a. Composition of members of the Board of Directors and members of the Board of Commissioners;

    b. Policy and criteria necessary to the nomination process; and

    c. Performance evaluation policy for members of the Board of Directors and/or Board of Commissioners;

  3. Assist the Board of Commissioners in evaluating the performance of members of the Board of Directors and/or members of the Board of Commissioners, based on benchmarks formulated for evaluation purposes.
  4. Provide recommendations to the Board of Commissioners about capacity development programs for members of the Board of Directors and/or Board of Commissioners; and
  5. Nominate candidates who satisfy requirements for office as members of the Board of Directors and/or members of the Board of Commissioners for proposal to the AGM.

- Duties and responsibilities related to the remuneration function as follows:

  1. Provide recommendations to the Board of Commissioners concerning the:
  2. a. Remuneration structure;

    b. Policy for remuneration; and

    c. Levels of remuneration;

  3. Assist the Board of Commissioners in evaluating performance against adjustments in the remuneration received by each member of the Board of Directors and/or member of the Board of Commissioners.

Composition and Tenure of the Nominations and Remuneration Committee

The functions of the Company Nominations and Remuneration Committee are currently performed by the Company Board of Commissioners. For the biodata of the Nominations and Remuneration Committee members, refer to the biodata for the Board of Commissioners for the term of office ending in 2023.

Independence of the Nominations and Remuneration Committee

The Nominations and Remuneration Committee shall carry out its duties and responsibilities in a professional and independent manner without interference from any party, in accordance with the prevailing laws and regulations.

Meetings of the Nominations and Remuneration Committee

Under the Guidelines for the Company Nominations and Remuneration Committee, at least 1 (one) meeting shall be held every 4 (four) months. In 2018, the Nominations and Remuneration Committee convened 3 times with 100% attendance by each member.

Performance of Nominations and Remuneration Committee Duties

In 2018, the duties of the Company Nominations and Remuneration Committee were still performed by the Board of Commissioners in accordance with the Guidelines for the Nominations and Remuneration Committee adopted as working guidelines on December 11, 2015, and subject to the provisions of the Company Articles of Association and the prevailing laws and regulations.