Board of Directors
Tien-Li’s 3rd Board of Directors was elected in 2020 and currently has seven Directors (including three Independent Directors). The rate of Independent Directors was one-thirds. Tien-Li focus on diverse elements for nomination and they need to possess the knowledge, skills and literacy in Industry, Finance, and Accounting, etc. Also seeking the directors from various fields. Tien-Li’s Board of Directors strives to perform the responsibilities of supervise the company through several internal regulations and robust the governance construction.
Tien-Li’s Board of Directors has passed ‘Rules for Performance Evaluation of Board of Directors’ during 2021. There’s also complete management policy and control mechanism for other functions. The board of directors had convened seven meetings in 2021. The management team maintained a healthy and functional communication with the Board of Directors. Follows to the direction of Managing Director and lead to business target to achieve the best interests for Tien-Li’s shareholders.
We have plenty of procedures to reduce the conflicts of interests. According to the rule of procedure of board, when the topic is related to the director or other juridical person they represented for, he/she should elaborate on personal interests in the matters subject under discussion. If there is any concern about conflicts of interests, they could express their opinions but not allowed to join the discussion or vote. They should recuse themselves during the vote. And they should not behalf of other directors to exercise of
The Audit committee was established in 2020 and appointed of three independent directors, Wu Kun-Ming, Song Jian-Shi and Chen Zhong-Xian as members of the Audit Committee. The Audit Committee assists the Board in making decisions, enhance the financial control practices, the hiring or dismissal of a CPA, or the compensation given thereto, internal control system, regulation compliance and risk control. The committee had convened four meetings in 2021. The average attendance rate of the conferences is 100%.
The Compensation committee was established in 2020 and appointed of three independent directors, Wu Kun-Ming, Song Jian-Shi and Chen Zhong-Xian as members of the Compensation Committee. The Compensation Committee assists the Board in discharging its responsibilities related to Tien-Li’s compensation and benefits policies, plans and programs, and in the evaluation and compensation of Tien-Li’s directors of the Board and executives. It help to build a competitive salary and remuneration mechanism that can make the enterprise sustainable development. The committee had convened five meetings in 2021. The average attendance rate of the conferences is 100%.
Tien-Li engaged in continues improvement of internal organization adjustment and leading the team with the characters of each manager to assign different tasks and rotation plan. Help to create the ability of business operation and strategy setup. Planned to select the key management successors within 5 years.
Moreover, according to the development strategy, external economic status, laws and tax burdens changes to adjust the training plan for managements and core employees about the technology inheritance and management skills. Improve the awareness and recognition of cooperation culture. It also necessary to institutionalize the ownership and internal control, establish a professional succession team, and make succession planning smooth.