71 Corporate Governance at a Glance At IHH, robust corporate governance forms the cornerstone of an effective Board and a well-functioning Group. By upholding the highest standards of corporate governance, we ensure sustainable value creation for all stakeholders. Our governance framework is designed to promote ethical behavior, accountability, transparency, and sustainability. IHH is also dedicated to strengthening its position and status as the world’s most trusted healthcare services network and fulfilling its aspiration to Care. For Good. Highlights Core Governance Principles Board Leadership and Effectiveness • Board Responsibilities – Set the strategic direction, ensures resource availability, and monitors management’s execution to ensure long-term success and sustainable value creation. – Promote ethical leadership and a culture of good corporate governance, and integrates sustainability into decision-making. – Ensure the impact of decisions on various stakeholders, such as patients, employees, shareholders, the community, and the environment, is considered. • Board Composition and Effectiveness – The diverse Board with a mix of skills, backgrounds, experiences, and perspectives provides independent judgment and effective leadership. – The balanced composition of independence ensures objectivity. – Annual evaluations to assess the effectiveness of the Board, its Committees, and individual Directors. – Continuous development and training to enhance Board effectiveness. • Remuneration – The Board ensures competitive and market-aligned compensation, linking rewards to performance and strategic objectives, with regular independent reviews to maintain appropriateness. Effective Audit and Risk Management • Audit Committee (AC) oversees financial reporting, internal and external audits, and conflict of interest situations. • Risk Management Committee manages the risk framework and sustainability initiatives. • The internal audit function provides independent assurance on the effectiveness of the internal controls, reporting directly to the AC. • This ensures that IHH maintains a sound system of internal controls and risk management to safeguard assets and stakeholders’ interests. Integrity in Corporate Reporting and Meaningful Relationship with Stakeholders • IHH emphasizes transparent and timely communication with stakeholders to build trust and confidence. It ensures accurate and consistent information dissemination through various channels, including financial reports and general meetings. • Annual General Meeting (AGM) serves as a key platform for shareholder engagement, allowing for meaningful dialogue and feedback.
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