Singapore Airlines 2014 Annual Report Download - page 49

Download and view the complete annual report

Please find page 49 of the 2014 Singapore Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 220

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220

CORPORATE GOVERNANCE REPORT
The Board and Management are committed to continually enhancing shareholder value by maintaining high standards of corporate
governance, professionalism, integrity and commitment at all levels, underpinned by strong internal controls and risk management
systems.
This Report sets out the Company’s corporate governance processes, with specific reference to the guidelines of the revised Code
of Corporate Governance issued by the Ministry of Finance in Singapore in May 2012 (“the Code”).
The Board’s Conduct of Affairs, Board Composition and Guidance, Chairman and Chief Executive Officer
(Principles 1 to 3)
The Board’s principal functions include charting the Group’s strategic direction, reviewing and approving annual budgets, financial
plans and monitoring the Group’s performance; approving major acquisitions and fund-raising exercises; and ensuring the Group’s
compliance with all laws and regulations as may be relevant to the business.
The Board currently comprises the following members:
Date of first Date of last
Position held appointment re-election Nature of
Name of Director on the Board to the Board as Director Appointment
Stephen Lee Ching Yen Chairman 26 April 2004 29 July 2011 Non-executive/
Independent
Goh Choon Phong Director 1 October 2010 26 July 2013 Executive/Non-
Independent
Gautam Banerjee Director 1 January 2013 26 July 2013 Non-executive/
Independent
William Fung Kwok Lun Director 1 December 2009 26 July 2012 Non-executive/
Independent
Hsieh Tsun-yan Director 1 September 2012 26 July 2013 Non-executive/
Independent
Christina Ong Director 1 September 2007 26 July 2012 Non-executive/
Independent
Helmut Gunter Wilhelm Panke Director 1 September 2009 26 July 2012 Non-executive/
Independent
Jackson Peter Tai Director 1 September 2011 26 July 2012 Non-executive/
Independent
Lucien Wong Yuen Kuai Director 1 September 2007 26 July 2013 Non-executive/
Non-Independent
Note: Ms Euleen Goh Yiu Kiang retired on 27 July 2013
The Board currently comprises nine Directors. The size and composition of the Board are reviewed from time to time, taking into
account the scope and nature of operations of the Company, to ensure that the size of the Board is adequate to provide for a
diversity of views, facilitate effective decision-making, and that the Board has an appropriate balance of executive, independent
and non-independent Directors. The Directors come from diverse backgrounds with varied expertise in finance, legal, industry,
business, marketing and management fields. Their profiles are found on pages 6 to 9.
There is a strong independent element in the Board, with the Nominating Committee considering seven out of nine Directors to
be independent from Management and the Company’s substantial shareholder, Temasek Holdings (Private) Limited (“Temasek”).
047
ANNUAL REPORT FY2013/14