board of directors’ roles and responsibilities
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Board of Directors’ Roles and Responsibilities. Board Structures. There are basically two models of board structures: One tier-board Two tier-board. 4. Role of Board of Directors. Board of directors exist to resolve agency problems associated with the s eparation of ownership and control - PowerPoint PPT PresentationTRANSCRIPT
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Board of Directors’ Roles and Responsibilities
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04/21/23
Board Structures
• There are basically two models of board structures:– One tier-board– Two tier-board
4
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Role of Board of Directors
• Board of directors exist to resolve agency problems associated with the separation of ownership and control
• The board of directors is the cornerstone of the company’s corporate governance structure with the primary role of safeguarding interests of shareholders and other stakeholders
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Fiduciary Duties of Board of Directors
• Fiduciary duty means, as shareholders’ guardians, directors must be trustworthy, acting in the best interest of shareholders, and investors in turn have confidence in the directors’ actions
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Fiduciary Duties of Board of Directors
• Fiduciary duties of board of directors:– Duty of due care– Duty of loyalty– Duty of good faith– Duty to promote success– Duty to exercise diligence, independent
judgment, and skill– Duty to avoid conflict of interest
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Board Committees
• Audit committee
• Compensation committee
• Governance committee
• Nominating committee
• Disclosure committee
• Special committee
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Board Characteristics
• Board leadership– It is good to have independent chairperson
• CEO duality– Investors are in favor of the separation of
the positions
• Lead director– In a combined role, the boar should
appoint independent lead director
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Board Characteristics
• Board composition– Ratio of outside to inside directors– Size of the boards
• Board authority– Exercises oversight– Have a fiduciary duty
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Board Characteristics
• Responsibilities– To ensure that the company’s assets are
safeguarded and that managerial decisions and actions are made in a manner of maximizing shareholder wealth while protecting the interests of other stakeholders
• Resources– Should have adequate resources to fulfill
its oversight function
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Board Characteristics
• Independence– Essential to the proper and objective
functioning of the board
• Director compensation
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Effective Corporate Board
• Create an open and engaging boardroom atmosphere
• Maximize the value of the board’s time commitment by establishing clear roles and responsibilities within an appropriate structure
• Determine the information the board needs and ensure it is delivered in a timely manner
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Effective Corporate Board
• Dedicate the time to strategic issues
• Create a transparent, explicit, and accountable executive pay process
• Actively engage in the CEO succession process
• Assess the strength of the company’s management talent
• Monitor the company’s enterprise risk management system
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OECD Principles
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UU PT No. 40 Tahun 2007
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UU PT No. 40 Tahun 2007
• Direksi:– Direksi menjalankan pengurusan
Perseroan untuk kepentingan Perseroan dan sesuai dengan maksud dan tujuan Perseroan
– Setiap anggota Direksi bertanggung jawab penuh secara pribadi atas kerugian Perseroan apabila yang bersangkutan bersalah atau lalai menjalankan tugasnya
• Tanggung jawab tersebut berlaku secara tanggung renteng bagi setiap anggota Direksi
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UU PT No. 40 Tahun 2007
• Dewan Komisaris:– Dewan Komisaris melakukan pengawasan atas
kebijakan pengurusan, jalannya pengurusan pada umumnya, baik mengenai Perseroan maupun usaha Perseroan, dan memberi nasihat kepada Direksi
– Dewan Komisaris yang terdiri atas lebih dari 1 (satu) orang anggota merupakan majelis dan setiap anggota Dewan Komisaris tidak dapat bertindak sendiri-sendiri, melainkan berdasarkan keputusan Dewan Komisaris
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UU PT No. 40 Tahun 2007
• Dewan Komisaris:– Setiap anggota Dewan Komisaris ikut
bertanggung jawab secara pribadi atas kerugian Perseroan apabila yang bersangkutan bersalah atau lalai menjalankan tugasnya
• Tanggung jawab tersebut berlaku secara tanggung renteng bagi setiap anggota Dewan Komisaris
– Dewan Komisaris dapat membentuk komite, yang anggotanya seorang atau lebih adalah anggota Dewan Komisaris
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KNKG
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Pedoman Umum GCG
• Agar pelaksanaan tugas Dewan Komisaris dapat berjalan secara efektif, perlu dipenuhi prinsip-prinsip berikut:– Komposisi Dewan Komisaris harus memungkinkan
pengambilan keputusan secara efektif, tepat dan cepat, serta dapat bertindak independen.
– Anggota Dewan Komisaris harus profesional, yaitu berintegritas dan memiliki kemampuan sehingga dapat menjalankan fungsinya dengan baik termasuk memastikan bahwa Direksi telah memperhatikan kepentingan semua pemangku kepentingan.
– Fungsi pengawasan dan pemberian nasihat Dewan Komisaris mencakup tindakan pencegahan, perbaikan, sampai kepada pemberhentian sementara
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Pedoman Umum GCG• Agar pelaksanaan tugas Direksi dapat berjalan
secara efektif, perlu dipenuhi prinsip-prinsip berikut:– Komposisi Direksi harus sedemikian rupa sehingga
memungkinkan pengambilan keputusan secara efektif, tepat dan cepat, serta dapat bertindak independen.
– Direksi harus profesional yaitu berintegritas dan memiliki pengalaman serta kecakapan yang diperlukan untuk menjalankan tugasnya.
– Direksi bertanggung jawab terhadap pengelolaan perusahaan agar dapat menghasilkan keuntungan (profitability) dan memastikan kesinambungan usaha perusahaan.
– Direksi mempertanggungjawabkan kepengurusannya dalam RUPS sesuai dengan peraturan perundang-undangan yang berlaku.
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Aturan Bapepam dan LK
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Peraturan IX.E.1
• Transaksi Afiliasi adalah Transaksi yang dilakukan oleh Perusahaan dengan Afiliasi Perusahaan.
• Benturan Kepentingan adalah erbedaan antara kepentingan ekonomis Perusahaan dengan kepentingan ekonomis pribadi direktur, komisaris, pemegang saham utama Perusahaan dalam suatu Transaksi yang dapat merugikan Perusahaan karena adanya penetapan harga yang tidak wajar.
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Peraturan IX.E.1
• Perusahaan yang melakukan Transaksi Afiliasi wajib melakukan keterbukaan informasi kepada Bapepam dan LK dan mengumumkan kepada masyarakat paling lambat akhir hari kerja ke-2 (kedua) setelah terjadinya Transaksi
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Peraturan IX.E.1
• Transaksi yang mengandung Benturan Kepentingan wajib terlebih dahulu disetujui oleh para Pemegang Saham Independen atau wakil mereka yang diberi wewenang untuk itu dalam Rapat Umum Pemegang Saham sebagaimana diatur dalam peraturan ini. Persetujuan mengenai hal tersebut harus ditegaskan dalam bentuk akta notariil.