Singapore Airlines 2012 Annual Report Download - page 41

Download and view the complete annual report

Please find page 41 of the 2012 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 206

  • 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

039ANNUAL REPORT 2011/2012
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 Code of
Corporate Governance issued by the Ministry of Finance in Singapore in July 2005 (“the Code”)1.
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.
As at 31 March 2012, the Board comprises the following members:
Note: Mr James Koh Cher Siang retired on 1 September 2011
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, labour and management fields. Their profiles are found on pages 52 to 60.
1฀ The฀Monetary฀Authority฀of฀Singapore฀had฀on฀2฀May฀2012฀issued฀a฀revised฀Code฀of฀Corporate฀Governance฀(“revised฀Code”),฀which฀will฀take฀effect฀
with respect to Annual Reports of listed entities relating to financial years commencing from 1 November 2012. The revised Code will apply to the
SIA 2014 Annual Report.
Corporate Governance Report
For the period 1 April 2011 to 31 March 2012
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/
Non-Independent
Goh Choon Phong Director 1 October 2010 29 July 2011 Executive/
Non-Independent
William Fung Kwok Lun Director 1 December 2009 27 July 2010 Non-executive/
Independent
Euleen Goh Yiu Kiang Director 1 September 2006 29 July 2011 Non-executive/
Independent
David Michael Gonski Director 9 May 2006 27 July 2010 Non-executive/
Independent
Christina Ong Director 1 September 2007 27 July 2010 Non-executive/
Independent
Helmut Gunter Wilhelm Panke Director 1 September 2009 27 July 2010 Non-executive/
Independent
Jackson Peter Tai Director 1 September 2011 NA Non-executive/
Independent
Lucien Wong Yuen Kuai Director 1 September 2007 29 July 2011 Non-executive/
Independent