SK Chemicals Establishes Personnel and ESG Committees... Strengthening Board Authority

[Asia Economy Reporter Hwang Yoon-joo] SK Chemicals is strengthening management centered on the board of directors.

On the 23rd, SK Chemicals held a board meeting and resolved to establish a 'Personnel Committee' and an 'ESG (Environment, Social, Governance) Committee,' announcing that it will improve corporate governance centered on the board of directors.

The newly established Personnel Committee will perform functions such as evaluating the CEO and deciding on their retention, as well as reviewing the remuneration amounts for inside directors. When appointing a new CEO, the Personnel Committee comprehensively considers the company's opinions to finalize the CEO candidate, and the final appointment decision is made through resolutions by the board of directors and the general shareholders' meeting.

In addition to evaluating the CEO, the Personnel Committee holds the authority to submit replacement proposals to the board during the CEO's term to maintain continuous oversight. Furthermore, the procedure was added whereby the total remuneration limit for directors is set through the general shareholders' meeting, and before the board finalizes individual remuneration amounts, the Personnel Committee first reviews these individual amounts.

The ESG Committee is an organization established to strengthen the board's functions regarding the company's major decision-making matters. As the importance of ESG management continues to grow, the committee analyzes strategies related to Environment, Social, and Governance based on expertise to enable the company to achieve sustainable long-term growth. Going forward, the company's management strategies and significant investment-related matters will undergo review by the ESG Committee.

With the establishment of these committees, SK Chemicals' board of directors will now have a total of four committees functioning under it, including the Audit Committee and the Outside Director Candidate Recommendation Committee.

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