Advance governance quality
The TWSE expects to set an example for corporations in Taiwan, and has spared no effort in refining its governance framework and strengthening the roles and competencies of the board of directors and member diversification. The TWSE goal is to form reliable governance cultures in Taiwan corporations, create a friendly investment environment, and enhance the international competitiveness of the capital market.
Improving the governance framework
Organization structure of the TWSE
The board of directors is the highest governing body at the TWSE, and each of the 16 departments subordinate to it has different responsibilities. Please visit the TWSE website for the main responsibilities of each department(https://www.twse.com.tw/en/page/about/company/organization.html).
Corporate Social Responsibility Committee
To optimize its own CSR management, the TWSE established the "Directions for Establishment of the Corporate Social Responsibility Committee" to set up a CSR committee as the top administrative organization for sustainable management in 2020. With the TWSE president as the committee leader, the CSR committee is formed with TWSE SEVPs and department heads. Under the committee, there are five working groups including Governance, Capital Market, People, Society and Environment.
Strengthening the roles and competencies of the board of directors and member diversification
The selection of the TWSE board members is open, transparent, fair, and complies with the principle of diversity. Directors and supervisors serve three-year terms, and their eligibility is not restricted by gender or race. The expertise and independence of directors and supervisors are prioritized.
Current directors (20th board of directors) were appointed in July 2019 and collectively have rich industry, academic, and practical experience. The board includes two female directors and five directors appointed by the competent authority, in accordance with the stipulations of Article 126 of the "Securities and Exchange Act." A total of 12 board meetings were convened in 2020 with an attendance rate of 100%, showing the TWSE's commitment to corporate governance and leading by example.
Information on director age and gender distribution in 2020 (20th board of directors)
In addition, the TWSE purchased director and officer ("D&O") liability insurance for all directors and supervisors to reduce and disperse the risk of significant damage caused to the company and shareholders by the mistakes or negligence of directors. This will enrich corporate governance and fulfill the functions of directors.
For more information on the board of directors, please visit the TWSE website(https://www.twse.com.tw/en/page/about/company/board.html).