Yang Ming has established “Corporate Governance Best Practice Principles” containing the board diversity policy. The board diversity and independence is disclosed in annual report and on Yang Ming’s official website.
The Board Diversity
● The Board Diversity Policy
The board of Yang Ming should direct company strategies, supervise the management, and be responsible to Yang Ming and the shareholders. The
various procedures and arrangements of Yang Ming’s corporate governance system shall ensure the board of directors complies with laws, regulations,
Yang Ming’s articles of incorporation, and the resolutions of Yang Ming’s shareholders meetings while exercising their authority.
The structure of Yang Ming's board of directors shall be determined by choosing an appropriate number of board members, between 7 to 15, in
consideration of Yang Ming’s business scale, the shareholdings of Yang Ming’s major shareholders, and practical operational needs.
The composition of the board of directors shall be determined by considering diversity. It is advisable that directors concurrently serving as company
officers not exceed one-third of the total number of the board members, and that an appropriate policy on diversity based on Yang Ming's business
operations, operating dynamics, and development needs be formulated and include, without being limited to, the following two general standards:
1. Basic composition and values: gender, age, race or ethnicity, nationality and culture.
2. Professional knowledge and skills: professional background (such as law, accounting, industry, finance, marketing or technology), professional skills and
industrial experience…etc.
Board members should possess the knowledge, skills, and experiences necessary for performing their duties. To achieve the ideal goal of corporate
governance, the board of directors shall possess the following abilities:
1. Ability to make operational judgment
2. Ability to perform accounting and financial analysis
3. Ability to conduct management administration
4. Ability to handle crisis management
5. Knowledge of the industry
6. An international market perspective
7. Leadership
8. Ability to make policy decisions
9. Knowledge and abilities of risk management
● Specific Objectives and Implementation of the Board Diversity Policy
Yang Ming’s board consists of 11 directors including 3 independent directors. All of the Board members possess extensive experiences and expertise in
marine industry, world economy, finance, accounting, laws, and management. Yang Ming’s directors with employee status account for 9%, and
independent directors account for 27%. The term of 2 independent directors is less than 3 years and 1 independent director is 3-9 years. The age of 5
directors ranges between 51-60 years old, 5 directors ranges between 61-69 years old, and 1 director is over 70 years old. The implementation of Board
diversity policy is as follows:
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