Page 40 - InterloopLimitedSR2020

OUR GOVERNANCE ORGANIZATIONAL STRUCTURE

The Governance structure at Interloop election of directors was held on Oct proper delegation as required under
is directed by the requirements of 15, 2020, and new directors resumed the Code of Corporate Governance, Board of Directors
the Companies Act 2017, Code of their offices from Oct 22, 2020. The for effective discharge of its duties.
Corporate Governance for listed Directors elect one of the members The committees include the Audit
companies and listing regulations to serve as Chairman of the Board. Committee, HR and Remuneration
of the Pakistan Stock Exchange. The positions of the Chairman and Committee, Risk Committee and
These regulatory requirements are the Chief Executive are held by Nomination Committee. These Board Committees Company Secretary
supplemented by our internal Code of different individuals. The Chairman committees have defined terms of
Conduct and best available practices is responsible for overseeing the reference with clear objectives and
in corporate governance. Last year, performance of the Board while the responsibilities and assist the Board in
we got listed on the Pakistan Stock Chief Executive Officer is responsible effective decision making on matters
HR &
Exchange which has increased the for day to day activities of the relevant to these committees. Audit Remuneration Nomination
minimum threshold and has helped company, in line with the mandate Committee Committee Committee
to enhance the governance practices vested in him by the Board. The Board has delegated the
at Interloop. This transformation is responsibility of planning, execution,
expected to help Interloop ensure The Board consists of seven directors; and monitoring of sustainability
continued delivery of exceptional two executive directors and five non- initiatives to the Chief Executive Internal
performance and meet the executive directors. Two of them are Officer. The CEO Secretariat has Audit CEO
expectations of our stakeholders. The independent directors and have no centralized these activities under the
Code of Conduct, being an important monetary relationship with Interloop domain of a dedicated Sustainability
component of corporate governance Limited except directorship fee paid Cell. The Sustainability Cell is
at Interloop, guides on ethical to them for attending Board / General responsible for reviewing customers’ CEO’s Office CFO
business practices, relations with our meetings. The Board has six male requirements on the sustainability (Corp Coms, Sustainability,
business partners and the conduct directors and one female director. The front, developing new policies and Strategy Office, Other Specialists)
required from our people. The Code of directors have diverse backgrounds in actions, recommending the best
Conduct can be accessed on pages engineering, finance and other related course of action, defining targets,
10-11 of the Annual Report 2020. fields. The details about the directors and monitoring the performance
can be found on pages 52-53 of the of sustainability. The sustainability
VP
VP
VP
BU Head
The Board of Directors is the highest Annual Report 2020. performance is reviewed by the Chief President President/ President/ Seamless Finance People CIO Sourcing
VP Yarns
VP Denim
Hosiery
governing body at Interloop and is Executive Officer on a monthly basis
elected every three years. The last The Board of Directors has constituted and deliberation is also carried out at
different Board committees, with the Board meetings.
VP Sales &
Marketing Spinning Finance HR
VP Hosiery Yarn Energy Interloop
Sales Sales Way

VP Hosiery Yarn Dyeing Lean
OPS & Covering

EHS

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