On regular and consistent basis, Board of Commissioners reviews the methodical execution of the policies and the effectiveness of the decision making process by the Directors. In addition it also reviews implementation of strategy to meet the stakeholder’s expectation. On the corporate policy matters Board of Commissioners also provide guidance and path to the Board of Directors.
Generally, the duties and responsibilities of the Board of Commissioners are:
- Ensure that GTB complies with all regulations and laws, including special tasks as mandated by GTB Articles of Association;
- Review and approve GTB policy, business strategy and long term plans;
- Review and approve the annual budget and work plan;
- Review the annual report prepared by the Board of Directors for submission to shareholders;
- Appoint and determine the duty of committees its structure and members;
- Evaluate the performance of Board of Directors; and
- Observe the implementation of effective good corporate governance practices and advise the improvements.
In order to carry out its mandate, the Board of Directors holds meetings or discussion through e-mail as required. Meetings can be called to deal with matters that may arise from time to time.
The Board of Commissioners comprises of minimum 2 members. As these positions are non-executive so the compensation paid to the Board of Commissioners is based on their time sought by GTB. The amount paid to Board of Commissioners is in line with industry standards and is reviewed regularly by shareholders.