Page 40 - Interloop Sustainability Report 2019

OUR GOVERNANCE ORGANIZATIONAL STRUCTURE

Corporate governance principles Pakistan, placing Interloop amongst found at page 28 of the Annual Report
set the structure and processes the top 50 companies and the 2nd 2019.
for successful management of the Largest Textile Company listed on PSX, Board of Directors
organization and bring transparency by market capitalization. The Board has constituted different
in corporate actions. This year, we got Board committees, with proper
listed on Pakistan Stock Exchange The Board of Directors is the highest delegation as required under the
which has required us to follow the governing body at Interloop. The Board Code of Corporate Governance,
listing regulations as well as Code is elected every three years. The last for effective discharge of its duties.
of Corporate Governance for listed election of the Directors was held on These committees include the Audit
companies. We, at Interloop, commit October 22, 2017. The Directors elect Committee, HR and Remuneration Board Committees Company Secretary
to follow our internal code of conduct, one of the members to serve as the Committee and Nomination
Code of Corporate Governance Chairman of the Board. The positions Committee. The committees have
applicable on listed companies and the of Chairman and Chief Executive defined terms of reference with clear
best available practices in corporate Officer are held by different individuals. objectives and responsibilities.
governance to ensure continued The Chairman is responsible for Interloop is committed to act in an Audit HR & Renumeration Nomination
delivery of exceptional performance overseeing performance of the Board ethical and sustainable way in all of Committee Committee Committee
and meet the expectations of our while the Chief Executive Officer is its activities. It has centralized the
stakeholders. The code of conduct responsible for day to day activities of planning, execution and monitoring
guides on ethical business practices, the Company in line with the mandate of sustainability activities under
relations with our business partners vested in him by the Board. the CEO Secretariat in the form of Internal CEO
Audit
and the conduct required from our The Board consists of seven Directors; dedicated Sustainability Cell. The
people. The code of conduct can be two Executive & five Non-Executive Sustainability Cell is responsible for
accessed at page 8 of the Annual Directors. Two among them are reviewing customer requirements on
Report 2019. CFO
Independent Directors and have no the sustainability front, developing new
Interloop Limited (ILP) was listed on monetary relationship with Interloop policies and actions, recommending CEO’s Office
the Pakistan Stock Exchange (PSX) Limited except directorship fee paid the best course of action, defining (Corp Coms, Sustainability Strategy
Office, Other Specialists)
on April 5, 2019 at PSX, Karachi. to them for attending Board meetings. targets and monitoring performance
Despite tough market conditions, the Of the seven Directors, six are male on sustainability. The sustainability
IPO was oversubscribed by 1.5 times and one is female. The Directors have performance is reviewed by the Chief
and Interloop was able to successfully diverse backgrounds in engineering, Executive Officer on a monthly basis
raise PKR 5.02 billion, the highest by finance and other related fields. The and deliberation is also carried out at President President / President / BU Head VP Finance VP People CIO VP Sourcing
a private company in the history of details about the Directors can be the Board meetings. Hosiery VP Yarns VP Denim Seamless

VP Sales & Spinning Finance HR
Marketing

VP Hosiery Sales Yarn Sales Energy Interloop Way

Yarn Deying &
VP Hosiery OPS Lean
Covering

EHS

38 Interloop Limited Sustainability Report 2019 39