Constitution of the Board of Directors
The Board of Directors of Advanced Lithium Electrochemistry (Cayman) Co., Ltd. (hereinafter referred to as the “Company”) comprises seven directors, who are equipped with necessary knowledge, skills and abilities to perform their duties. Four of the seven directors are independent directors, who are, respectively: Wei, Pao-Sheng Chairman of KGI Bank; Lee, Chao-Chin Director of Taimide Tech. Inc.; Shih, Ning-Jye Professor, Department of Public Administration, National ChengChi University, Taiwan; and Chang, Chuan-Chang Professor, Department of Financial, National Central University, Taiwan. The number of the independent directors of the Company reaches one-third of the total number of the directors of the Company.
In addition to Chang, Sheng-Shih, the Chairman of the Board of Directors, the rest of the directors of the Company include:Chu, Jui-Yang, the CIO&Lawyer of Advanced Lithium Electrochemistry Co., Ltd.; and Lee, Yu-Mei the Manager of General Administration Division, Advanced Lithium Electrochemistry Co., Ltd.
- Current Implementation on the Diversity and Independence of the Directors
As of March 31 2022 , The Board of Directors of the Company has 7 directors, including 4 independent directors. The professionals cover the finance or accounting, law and regulation, business management, knowledge of new energy industry and so on. The directors concurrently serving as company managers does not exceed one-third of the total number of the board members. The female directors account for 14.29% of the board members with an average age of 49 years old and the male directors account for 85.71% with an average age of 58 years old. All directors are Taiwanese.
Above conditions fulfill the diverse policy of directors. Moreover, to enhance the independency of the Board of Directors, there are four independent directors in the board members of the Company, accounting for 57.14%. The seven directors do not have any relation of spouse or relative within the second degree of kinship with other director. The directors concurrently serving as company managers does not exceed one-third of the total number of the board members. Above conditions fulfill the independency
Duties and Responsibilities of the Board of Directors
The Board of Directors is led by the Chairman of the Board of Directors, Chang, Sheng-Shih to diligently carry out its duties and responsibilities. According to Chairman Chang’s belief in corporate governance, the primary responsibility of the Board of Directors is to supervise the Company and operate the Company in good faith. The Board of Directors shall supervise the Company to see if the Company is in compliance with law and transparent in financial status, disclose material information promptly, and is not in breach of good faith. To diligently perform its duty to supervise the Company, the Board of Directors of the Company establishes various types of committees and units, such as the Audit Committee, Remuneration Committee, financial expert under the Audit Committee and the internal auditors.
Another responsibility of the Board of Directors is to guide the management team of the Company. The management team of the Company shall periodically present business reports to the Board of Directors quarterly, and the Board of Directors will, through the conversation with the management team, understand the practical issues and problems encountered. The management team shall also propose the Company’s strategies to the Board of Directors, and the Board of Directors shall assess the possibility of the strategies to succeed, review the progress of the strategies periodically, and urge the management team to adjust the strategies when necessary.
The third responsibility of the Board of Directors is to evaluate the performance of the management team and appoint/discharge managers. The communications between the management team and the Board of Directors of the Company is smooth and easy, enabling the management team to make its best efforts to execute the instructions of the Board of Directors, perform the business operations of the Company, and maximize the interests of the shareholders of the Company.