Role and responsibilities
The Nomination Committee assesses the Board of Directors. Specifically it:
- Guides the appointment of the Board and Committee members.
- Assesses the knowledge, skills and experience of the Board members.
- Identifies, recommends and nominates new members.
- Reviews the adequacy, efficiency and effectiveness of the BoD.
It also is responsible for appointing senior executives, General Manager level or higher, and the heads of the Risk General Divisions.
The Nomination Committee convenes at least 2 times a year.
Appointment and office term
The Nomination Committee consists of 6 Non-Executive Directors, 3 of whom are also independent Directors. One of the NomCo members is the HFSF Representative. The HFSF appointed an Observer in the NomCo, in line with the requirements of the RFA.
The office term of the Committee members coincides with the office term of the Board of Directors, with the option to renew their appointment. In any case, the office term in the Committee should not be more than 12 years in total.