Management Board governance
KGHM’s Management Board is statutorily required to meet at least once every month. In practice however, these meetings are usually held once a week. During these meetings, the Management Board discusses, among others, issues related to Company strategy, matters related to risk management, the financial and operational performance of the Company and any other strategic issues concerning the company and its operations. These meetings are convened by the President, or, in his absence, by the Deputy Vice President.
Management Board composition
The current Management Board is composed of five members.
The names, skills and experience of each member of the Management Board are shown in our Management Board section.
Breakdown of positions on the Management Board by gender over the last two years
|As at||Number of women||Number of men|
Following is the preliminary breakdown of duties within the Management Board of KGHM Polska Miedź S.A.:
The President of the Management Board is responsible for:
- activities related to comprehensive risk management at the corporate level as well as internal auditing and controlling within the Group;
- corporate oversight standards and applying the corporate governance standards adopted by the Company;
- complete corporate oversight over the Group’s domestic subsidiaries;
- developing, updating and monitoring execution of the Group’s equity investments plan;
- compliance with formal reporting and publishing obligations within the scope required by law;
- organisational and legal servicing of the Company’s bodies;
- activities related to communications and corporate image-building within the Group;
- the means used to shape relations with the Company’s external business environment;
- the work of the Central Procurement Office;
- on the Founder’s behalf - the functioning of the KGHM Polish Copper Foundation as well as other organisations serving the public (as defined by Polish law) which support achievement of the Group’s business goals;
- appointing a Strategy and Development Council and oversight of its work; and
- activities related to human resource management.
The Vice President of the Management Board is responsible for:
- initiating, developing, implementing, monitoring and updating the Main Strategy;
- executing R&D policy;
- shaping the company’s commercial and logistics policy;
- shaping the company’s portfolio of products and services;
- initiating, developing and implementing supply chain management standards; and
- carrying out projects related to supply chain integration.
The Vice President of the Management Board (Finance) is responsible for:
- shaping the Group’s financial policy;
- reviewing the Main Strategy’s projects in terms of their financial feasibility;
- finances in all of the Group’s operations and activities;
- creating the Group’s tax policy; and
- overseeing the company’s accounting services.
The Vice President of the Management Board (Development) is responsible for:
- preparing and executing strategy for the international assets;
- activities with respect to acquiring and developing the international resource base;
- analysing, assessing and preparing new international exploration projects;
- preparing reports and expertise with respect to international resource projects;
- corporate oversight of international companies, and the coordination of activities under the Company’s plan of equity investments in international subsidiaries; and
- substantive oversight of the Group’s international subsidiaries involved in production, including the creation and advancement of their production plans.
The Vice President of the Management Board (Production) is responsible for:
- the integrated planning and optimisation of production as well as developing the core production business;
- occupational safety and hygiene and control of environmental risk;
- management of real estate;
- activities with respect to acquiring, building and maintaining in readiness the production and non-production assets and achievement of the main goals of the Energy Strategy;
- planning and coordination of investment processes and development projects; and
- activities with respect to manufacturing the Company’s products and services (primary mine and metallurgical production).