Toshiba 2013 Annual Report Download - page 45

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Corporate Governance
Toshiba Group promotes corporate governance based on the fundamental policies of enhancing management efficiency,
increasing transparency and maximizing corporate value from the shareholders’ perspective.
Toshiba’s corporate governance follows the fundamental
policies of maximizing corporate value from the
shareholders’ perspective and improving management
e ciency and transparency.
Guided by this, we revitalized the Board of Directors
and reduced its membership with the 1998 introduction of
the executive o cer system. Other management initiatives
followed. In 2000, we voluntarily established the Nomination
Committee and the Compensation Committee. In 2001, we
introduced a system of appointing three outside directors
and reducing the term of o ce for directors to one year. And
in 2003, following a change in the commercial code, in
Corporate Governance Structure
General Meeting of Shareholders
Board of Directors/
Directors
Nomination
Committee
Audit
Committee
Compensation
Committee
Decisions on Compensation of
Directors and Executive Ocers
Corporate
Audit Division
President & CEO
Executive Ocers
Divisions
Proposal
Nominations of
Candidates for
Directorships
Appointment
and Dismissal
Appointment and Dismissal
Report
Supervision
Audit
Audit
Cooperation
Audit
Report Report
Toshiba’s Governance System
another move toward reinforcing management efficiency
and transparency, we introduced the Company with
Committees system, pursuant to a resolution approved by
the general meeting of shareholders.
Re ecting the continued expansion of Toshiba’s global
business, the number of directors has increased to 16. The
membership of the Board of Directors now includes eight
non-executive directors: four outside directors, the chairman
and vice chairman of the board and two members of the
Audit Committee appointed from in-house.
The three committees—the Nomination Committee,
the Audit Committee and the Compensation Committee—
Corporate Governance
43
TOSHIBA Annual Report 2013