GOOD CORPORATE GOVERNANCE STRUCTURE
In compliance with Law Number 40 year 2007 concerning Limited Company, Company’s Organ comprises of General Meeting of Shareholders, Board of Commissioners and Directors. It plays a key role in GCG implementation.
Such Company’s Organ performs its functions in compliance with the provisions of applicable laws, Company’s Articles of Association, and other relevant provisions based on independence of respective organ in performing its duties, functions, and responsibilities for the best interest of the Company.
GCG In WIKA's Business Element
General Meeting of shareholders
GMS has the authorities which are not provided to Directors or Commissioners within certain limit determined in applicable laws or articles of association. Such authorities, among others, are: requiring accountability of Directors or Commissioners related to company management, revising the articles of association, appointing and discharging the directors and members of Board of Commissioners, determining distribution of job and authority among directors, etc.
The Company ensures that all information related to the company shall be provided to GMS as long as it does not collide with the Company’s interest and applicable laws and regulations.
In order to make the GMS generate optimum benefit and best decision based on proper considerations, the Company shall provide all information and facts related to business activities of the Company as long as it does not collide with the Company’s interest and applicable laws and regulations.
Board of Commissioners
Board of Commissioners is Company’s organ which is collectively responsible for monitoring the management of the Company performed by the Directors and providing necessary advice to Directors for the interest of the Company. They are also responsible for ensuring that the Directors have relevant capabilities in performing their jobs.
The Board of Commissioners is responsible for the supervision of state-owned enterprises, in accordance with the scope of duties and functions as provided in the Articles of Association of the Company, to the interests and objectives of SOEs.
Board of directors
The Directors is a component that holds the management accountability of the Company in the best interest of the Company and in accordance with the aims and objectives of the Company. It also represents the Company both within and outside court, concerning all matters and events, within restrictions, as determined by the legislation, articles of association, and/or the resolutions of GMS. The Directors bears collective duties and responsibilities, and each Director is allowed to act and constitue decisions in accordance with his or her authority.