Announcement regarding the establishment of Remuneration and Nomination Committee
Thessaloniki, June 26th,2013
"ELGEKA S.A." informs the investing public that the Board of Directors of the Company, within the framework of legal provisions on Corporate Governance and the adopted, by the 18/02/2011 decision of the Board of Directors, relevant Code established by Hellenic Federation of Enterprises (S.E.V.) proceeded today, Wednesday, June 26, 2013, into the establishment of Remuneration and Nomination Committee which shall have the following composition:
|
1. |
Chairman |
Leonidas Theoklitos |
Non-executive, independent |
|
2. |
Member |
Stylianos Stefanou |
Non-executive, independent |
|
3. |
Member |
Michalis Fandridis |
Non-executive, independent |
The responsibilities of the above Committee are the following:
The Committee recommends to the Board the remuneration policy for the members of the Board and the compensations and benefits system for attracting, retaining and developing the human resources of the Group.
Furthermore, the Committee is responsible for the process of replacement of members of the Board of Directors in order to ensure the orderly succession of Board members, using objective criteria.
The term of the Committee is four years, that is similar to that of the Board of Directors, begins today and ends on June 25, 2017.