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Corporate Governance Structure
NEG is involved in ongoing efforts to enhance corporate governance so as to ensure managerial transparency and strengthen operational supervisory functions.
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Policy for Execution of Business Affairs and Audit
Directors, Board of Directors, and Corporate Officers
At NEG, we are aiming to realize rapid and decisive decision-making, managerial transparency, and strong execution of business affairs. We take measures to ensure the optimal number of directors and to clarify managerial issues. We have introduced a system of executive officers to execute business operations. To achieve clarity of management responsibility and a flexible management system capable of responding to changes in the business environment, we have reduced director tenure to one year. Currently, the board of directors consists of 10 directors (including 3 representative directors).
Regular board of directors meetings are held monthly and extraordinary board of directors meetings are held as needed, to make decisions regarding important managerial issues and to supervise execution of business affairs.
Currently, there are 20 executive officers (including 8 serving concurrently as directors). The tenure of corporate officers is one year, the same as the director’s.
Management Committee
Management committee are held to discuss important business issues as well as details and implementation regarding managerial decisions reached at board of directors meetings. Management committee are held regularly twice a month and when necessary.
Board of Auditors
Currently, the board of auditors consists of four auditors, two of whom are external auditors. Auditors carry out audits following auditing policies, plans, and assignment of duties established by the board of auditors. Each auditor audits the way in which directors conduct business through participation in board of directors meetings and assessment of business affairs and corporate assets. The external auditors perform audits from independent perspectives from an objective and expert view.