-Expanded to the Transparent Management Committee and Sustainability Management Committee
Hyundai Motor Company, Kia, and Hyundai Mobis announced on the 19th that the Transparent Management Committee within the Board of Directors was expanded to the Sustainability Management Committee, and that the Committee decided to deliberate and decide on ESG (Environment, Social, Governance) policies and activities.
This reorganization aims to reinforce execution capabilities as well as ESG response and management capabilities by entrusting discussions on environmental and social responsibility to the highest decision-making body in the company. In the announcement of the convocation of the general shareholders’ meeting on the 18th, Hyundai Mobis proposed an agenda to change the articles of incorporation to reorganize the existing Transparent Management Committee into the Sustainability Management Committee. Hyundai Motor Company and Kia also plan to go through the board of directors in the near future to confirm and disclose the agenda to amend the articles of incorporation.
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Since 2015, each of the three companies has established a Transparent Management Committee composed of outside directors within the board of directors to enhance shareholder value and strengthen shareholder communication by securing internal transaction transparency, protecting shareholder rights and interests, and reviewing large-scale investments. The Sustainability Management Committee will have additional powers to deliberate and decide on the company’s EGS policies and plans, and major activities by expanding the scope of discussions on agenda to the role of the Transparent Management Committee and ESG.
An official of the Hyundai Motor Group said, “We will contribute to humanity and create sustainable future values through the establishment of the ESG management system. We will strive to become a company loved by the market and society by working together with all executives and employees centered on the board of directors.” .
Reporter Ki-Sung Koo [email protected]
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