Operation and Governance
Board Operations
The USI's Board of Directors candidates are nominated according to Articles of Association of USI, selection of candidates will be based on a range of diversity criteria, including but not limited to gender, age, nationality, culture background and ethnicity. The directors are assigned to different committees according to their expertise to enhance corporate core competitiveness. and voted by the Shareholders' Meeting. Each Board Director's term is three years. USI's Board of Directors has four special committees: Strategy Committee, Nominating Committee, Compensation Committee, and Audit Committee. There are rules of procedure for the committees. Each special committee reports to the Board of Directors, and the proposals of the special committees shall be examined and determined by the Board of Directors.
Please link to"Corporate Governance of Investors"for details.
To expand board members' competencies, USI arranges training courses that cover corporate governance and sustainability for board members in hopes that they will incorporate the spirit of sustainability in steering USI corporate policy. In 2023, board members completed 105.23 hours of training.
Board Performance and Compensation
USI established an evaluation and incentive mechanism to measure the performance of directors and senior officers (including CEO) respectively. Board of Directors will submit Working Reports, and Remuneration Committee will draft a compensation proposal according to achievement rate of annual profit and operating targets, and link to long-term sustainability objectives of material issues by duty requests. The proposal is generated after considering about industrial salary level and company status, and interlinking the business operator's annual salary, company asset, profitability, and business goals. It is expected to perfect the mechanism to select the superiors and strengthen goal constraint to ensure the integration of the company's operational goals with sustainable goals.
2023 & 2024 Performance Indicators:
| Financial indicator | ROE≥10% |
|---|---|
| Non-financial indicator (climate-related indicator) | By 2030, reduce 35% GHG emissions (base year: 2016) with an average annual reduction of 2.5% |
