Corporate governance towards sustainable development

 

SSI always upholds good corporate governance as one of the most important factors ensuring corporate sustainable development, thus winning investor confidence and maximizing investor interest. This, in its turn, contributes to the development of the entire market and the wider community. SSI’s governance function is built and gradually fine-tuned based on the best practices of corporate governance in the region and the world such as the ASEAN Corporate Governance Scorecard, which is coupled with strict compliance with Vietnam’s regulatory provisions on the governance of public companies. Risk management and compliance are also emphasized, creating a unified and consistent management mechanism to monitor and regulate the business operations in a professional, transparent and effective manner.   


MANAGEMENT MODEL FOR SUSTAINABLE DEVELOPMENT


The BOD holds the highest responsibility regarding SSI’s sustainable development strategy. The Chief Executive Officer and the Management Board are responsible for building and implementing goals and plans, as well as sharing and ensuring that all sustainable development initiatives are understood and adopted throughout the Company, from business units and departments to each and every employee.

 


REMUNERATION AND BENEFITS FOR BOARD OF DIRECTORS AND SUPERVISORY BOARD


2017 operation fund for BOD and SB was VND 3 billion, which was approved by the GSM and in accordance with GSM Resolution 01/2017/NQ-ĐHĐCĐ dated 21 April 2017.


At 31/12/2017, the BOD comprises of 06 members, of which 02 are executive members, 04 are non-executive members. The SB comprises 2 members, all of them are independent (Ms. Ho Thi Huong Tra resigned on 13th November 2017.

 


Periodic bonus and welfare of members of the BOD and SB
The BOD executive members, BOD members who participated in Company’s operation, and SB members received periodic bonus and welfare from the Company welfare fund, which was created from retained earnings and based on 2017 business performance approved by the GSM.      


Other benefits for members of the Board of Directors and Board of Supervisors
Currently, the Company’ business expenses benefits (including those relating to the use of company cars, telephones, social, medical and other insurance, the annual health check) and other benefits in internal policies are only applicable to the executive member of BOD or the member who participated in Company’s operation activities. The Company only pays expense related to business trip (if any) to other members of BOD and member of SB  


ESOP for Members of BOD and SB
In 2017, SSI has successfully issued shares under the Employee Stock Ownership Plan (ESOP), which aims to align the interests of employees and the Company; attract, maintain and motivate qualified staff to dedicate and make long-term commitment to the Company.


The number ESOP shares bought by BOD and SB members are as follow: