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For related information, please refer to the link below.
www.hd-xitesolution.com/company/sustainability
Contact : taeyeon3.kim@hd.com
Governance (G)
Contributing to the growth and advancement of all stakeholders based on sound corporate ethics and compliance practices.
Preamble
HD Construction Equipment Co., Ltd. (hereinafter "the Company") shall enhance corporate value to create shareholder value continuously, contribute to economic development, grow together with society through social value creation, and pursue transparent management through independent and efficient board operations and substantive audit mechanisms.
Deeply recognizing that establishing sound corporate governance is paramount to realizing this management philosophy, the Company hereby enacts this "Corporate Governance Charter" to establish and maintain sound corporate governance and continue its development.
Deeply recognizing that establishing sound corporate governance is paramount to realizing this management philosophy, the Company hereby enacts this "Corporate Governance Charter" to establish and maintain sound corporate governance and continue its development.
Deviations from Best Practices
| Best Practice Recommendation | Adoption | Remarks |
|---|---|---|
| Board Composition Requirements | O | Majority of outside directors (3 out of 5 members) |
| Outside Director Nomination Committee | O | Composed entirely of outside directors (3 out of 3 members) |
| Cumulative Voting | X | - |
| Independence of Outside Directors | O | Independent from the company, management, and controlling shareholders |
| Regular Board Meetings | O | Held on a quarterly basis |
| Board & Committee Operating Regulations | O | - |
| Disclosure of Board & Committee Operations | O | - |
| Audit Committee Composition Requirements | O | Composed entirely of outside directors (including accounting/finance experts) |
| D&O Liability Insurance at Company Expense | O | Covered under Directors and Officers (D&O) Liability Insurance |
| Board Evaluation | O | - |
| Prior Information Provision for Meetings | O | - |
| Financial Reporting Certification | O | - |
| Code of Conduct for Employees | O | Published on the Group’s Ethical Management website |
| Explanation of Deviations from Best Practices | O | - |