At FajarPaper, the Board of Commissioners (BoC) and Board of Directors (BoD) recognize the competitive advantage to be gained from transparent management methods, proper accountability, disclosure and best practice in the Company’s day to day operations, in the interests of all stakeholders.
The Board of Commissioners and Board of Directors share joint responsibility for adopting and maintaining transparency, integrity, fair and ethical standards and full accountability in all aspects of our business activities and to ensure full compliance with applicable laws and regulations.
Board of Commissioners
The Board of Commissioners is a professional and expert unit, overseeing the Board of Directors and the Company as a whole. Currently, the Board of Commissioners comprising of three members, one of whom is an Independent Commissioner, met quarterly as well as in informal routine meetings with the Board of Directors.
Board of Commissioners Roles and Responsibilities The BoC oversees proper governance of the Company, through supervision and advice to the BoD on the operations of the Company. The BoC is assisted by an independent Audit Committee. Specific roles and responsibilities include:
- To monitor the performance of management of the Company.
- To direct, monitor, and evaluate implementation of the Company’s strategy, business plan, and operating policies.
- To review and supervise the internal control systems and risk management of the Company.
- To review the level of remuneration of management and the BoD.
- To ensure the implementation of a high standard corporate governance practices and compliance.
Board of Directors
Management of the daily operations of the Company is the responsibility of the Board of Directors. This involves managing the performance of individual units, the performance of the Company overall, and the strategic focus of the business. Currently, the Board of Directors comprised five members all of whom are dedicated professionals with financial or technical expertise, and a thorough understanding of OJK (was BAPEPAM), the Indonesian Stock Exchange regulations, and Bank Indonesia, and their applications. The Board of Directors met formally in accordance to OJK regulation.
Committee of Remuneration and Nomination
In support of good corporate governance, rapid global change, and to support the professionally managed company, the Company has established the Committee of Remuneration and Nomination, in accordance to the Peraturan OJK No. 34/POJK.04/2014. The purpose of this committee is to evaluate and periodically review the Company's remuneration and nomination policy for commissioners and directors, and to provide recommendations to the Board of Commissioner, on the remuneration and nomination, to be conveyed to the stakeholders through General Shareholders Meeting (RUPS). Committee of Remuneration and Nomination charter can be found by clicking here.