Hugel practices "board-centric management" to improve corporate and shareholder value. Renowned for their independence, expertise, and diversity, the board of directors at Hugel supports rational and transparent decision-making for the management.
To reinforce the autonomy of board operations and enhance the transparency of supervisory duties, Hugel's board of directors made the decision in July 2022 to separate the roles of CEO and chairman of the board. Internal directors, each experts in their respective domains, take charge of managing different facets of the business.
The Board of Directors of Hugel consists of 7 directors, including 5 non-executive directors and 2 independent directors as of end of March 2024. The board of directors deliberates on matters stipulated by laws or articles of incorporation, matters delegated by the shareholders' meeting, and important matters regarding the basic policies and execution of business management. The board also ensures institutional mechanisms for rational decision-making and transparency in management.
Hugel has established and operates an audit committee in accordance with Article 41-2 of its Articles of Incorporation. As of the end of December 2022, the audit committee consists of three members, including two outside directors and one non-executive director. The members of the audit committee attend board meetings to independently supervise the directors' duties and may request relevant departments to submit related ledgers and documents in relation to their duties. Additionally, they may receive reports on business matters from the company when necessary and have access to management information through appropriate means.
