Yang Ming has established “Corporate Governance Best Practice Principles” containing the board diversity policy. The board diversity policy and the implementation is disclosed in annual report and on Yang Ming’s official website.
● 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, nationality and culture…etc.
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 members possess extensive experiences and expertise in marine
industry, world economy, finance, accounting, laws, and management fields. Yang Ming’s
directors with employee status comprises 18%, and independent directors comprises 27%. The serve term of 1 independent director is less than 3
years and 2 independent directors is between 3-9 years. The age of 4 directors are 61-70 years old and 7 directors are less than 60 years old. The
implementation of board diversity policy is as follows:
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