Discretionary Advisory Committees
Kansai Paint has established the following two discretionary advisory committees, which are working to strengthen its corporate governance.
This committee consists of two representative directors, three outside directors and two outside audit & supervisory board members (chairman: outside director). The Committee seeks to ensure transparency and fairness by including the viewpoints of outside officers in the following two evaluations.
a.Evaluating the Effectiveness of the Board of Directors
Evaluation was carried out on the basis of a questionnaire survey of directors and audit & supervisory board members who attend meetings of the Board of Directors. We will continue our efforts to enhance the effectiveness of the Board of Directors by making improvements based on issues identified from the independent directors’ perspective.
b.Evaluating the Performance of Directors and Executive Officers in the Previous Fiscal Year
Deliberations were carried out concerning the performance of directors and executive officers in the previous fiscal year, and remuneration for corporate officers. We will continue to implement a compensation system designed to link the interests of corporate officers with the improvement of business performance and the medium- to long-term interests of shareholders.
This committee consists of three outside directors and two outside audit & supervisory board members (chairman: outside director). Its role is to reflect perspectives of outside officers in the nomination of candidates for directorships, and to ensure that the nomination process is transparent and fair.