2021. 06. 24
ESG Committee will review major management strategies related to the environment, society, and governance
Human Resources Committee will exercise the right to recommend CEO candidates and present agendas for evaluation
bioscience announced that it will implement a board of directors-centered
bioscience (CEO: Ahn Jae-yong) held a board meeting on the 24th and
announced that the company will establish an “ESG Committee” and “HR Committee”
and improve corporate governance, centering on the board of directors.
The new SK
bioscience ESG Committee will play a role in strengthening the function of the
board of directors in the company´s major decision-making process. SK
bioscience is the first Korean vaccine company to establish an ESG committee
under the board of directors.
management applies non-financial factors such as environment, social, and
governance to business activities. Unlike the past, where only financial
performance was judged, corporate activities are now evolving and developing in
the direction of increasing corporate value from a long-term perspective.
respond to the growing importance of global ESG management, SK bioscience
established the ESG committee to reflect changes in the corporate environment
and counter-strategies related to the environment, society, and governance to
achieve long-term sustainable growth.
future, SK bioscience´s management strategies and major investment-related
matters will be reviewed by the ESG Committee.
bioscience’s Human Resources Committee will play a role in evaluating the CEO,
deciding whether the CEO should remain in office, reviewing the salaries of
internal directors, and other duties. For an appointment of a new CEO, the HR
committee first confirms the final CEO candidate, and then the appointment is
finalized by the approval of the board of directors and the general meeting of
stockholders. Also, the general meeting of stockholders will decide the limits
on the total amount of director compensation and the HR committee will review
individual salaries before the board of directors finalizes the salaries.
bioscience personnel said, “The improvement of corporate governance centered on
the board of directors reflects the company´s commitment to continuously engage
in responsible management practices and enhance corporate value,” and “In
particular, the ESG committee will review ways to address matters concerning
the environment, society, and governance to ensure sustainable growth and development
of the company.”
With this new committee, the SK bioscience’s board of directors will be strengthened and expanded to be newly composed of five specialized committees, including the Audit Committee and the Outside Director Candidate Recommendation Committee.