Singapore Airlines 2013 Annual Report Download - page 41

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039
ANNUAL REPORT 2012/13
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 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.
The Board currently comprises the following members:
Note: Mr David Michael Gonski retired on 1 August 2012
The Board currently comprises ten 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 54 to 63.
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.
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 29 July 2011 Executive/Non-
Independent
William Fung Kwok Lun Director 1 December 2009 26 July 2012 Non-executive/
Independent
Euleen Goh Yiu Kiang Director 1 September 2006 29 July 2011 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 29 July 2011 Non-executive/
Non-Independent
Hsieh Tsun-yan Director 1 September 2012 NA Non-executive/
Independent
Gautam Banerjee Director 1 January 2013 NA Non-executive/
Independent