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 three 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 overseeing:
- activities related to overall risk management at the corporate level as well as internal auditing and controlling within the Group,
- corporate supervision standards and the Company’s compliance with corporate governance standards,
- overall corporate oversight over the Group’s Polish subsidiaries,
- the development, updating and monitoring of the Group’s equity investment plan,
- compliance with formal reporting and publishing obligations within the scope required by law,
- activities related to creating, updating and maintaining the uniformity of the organisation’s internal regulations to maintain constant operating principles,
- organisational and legal servicing of the Company’s bodies,
- activities related to communications and corporate image-building within the Group,
- the shaping of 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, which support achievement of the Group’s business goals,
- activities related to human resources management.
The Vice President of the Management Board (Development) is responsible for overseeing:
- advancement of the Company’s R&D policy,
- advancement of the Company’s innovation and intellectual property protection policy,
- implementation and advancement of the Company’s Strategy and Sustainable Management policy,
- management of real estate,
- coordination of the Company’s investments and development projects,
- shaping of the Company’s trade and logistics policy;
- shaping of the Company’s products portfolio;
- initiation, development and implementation of management standards in the process of managing projects and programs.
The Vice President of the Management Board (Finance) is responsible for overseeing:
- the shaping of the Group’s financial policy,
- review of the Main Strategy’s projects in terms of their financial feasibility;
- finances in all of the Group’s operations and activities;
- the creation of Group tax policy;
- the Company’s accounting services.
The Vice President of the Management Board (International Assets) is responsible for overseeing:
- the preparation and implementation of strategy for international assets;
- activities related to obtaining and developing the International resource base;
- analysis, assessment and preparation of new international exploration projects,
- preparation of studies and expert opinions concerning international resource base projects,
- corporate governance over international companies, and coordination of tasks with respect to the plan of the Company’s equity investments in international subsidiaries,
- substantive oversight over the Group’s international production entities, including the creation and execution of their production plans.
The Vice President of the Management Board (Production) is responsible for overseeing:
- the integrated planning and optimisation of the Company’s production;
- planning the long-term development of the core production business in a technically and economically optimal manner,
- occupational health and safety and control of environmental risks;
- 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,
- activities with respect to manufacturing products and services and development of the primary mine and metallurgical production.