the Board Members with the long-term interests of the Company and the Shareholders iii) Applying high ethical standards iv) As s i gn i ng su f f i c i en t numbe r o f t he Non-executive Board Members capable of exercising independent judgement to items where there is a potential for conflict of interest v) Assisting the Executive Management by challenging the assumptions underlying strategy, strategic ini t iat ives (such as acquisitions), risk appetite, exposures and the key areas of focus of the Company vi) Encouraging training of the Directors on a continuous basis to ensure that the Board Members are kept up-to-date vii) Exercising objective and independent judgement on corporate affairs viii) Facilitating the Independent Directors to perform their role effectively as the Board Members and also as the Members of Committees ix) Meeting the expectations of operational transparency of the Stakeholders whi le maintaining confidentiality of information in order to foster a culture of good decision making 2.2 Appointment and tenure rd 2|3 of the Directors (other than the Independent rd Directors) are rotational Directors. 1|3 of rotational Directors retire in every Annual General Meeting (AGM) and, if eligible, offer themselves for reappointment. The Managing Director is appointed by the Members for a period up to 5 years. 2.3 Composition, name, other directorships | committee memberships The Board comprises experts drawn from diverse fields | professions. It consists of 6 Members comprising 2 Independent Directors and 4 promoter Directors including a Chairman and a Managing Director. Rudolf Atul Chemicals Ltd | Annual Report 2017-18 No. Name Directorship(s) Membership(s) of Chairmanship(s) of in other the Committee(s) the Committee(s) Company(ies)¹ of the Board(s)² of the Board(s)² Chairman 1 Wolfgang Schumann - - - Managing Director 2 G Venugopala Rao - - - Non-executive Directors 3 Ulrich Hambrecht - - - 4 Gopi Kannan Thirukonda 8 4 - 5 Sudhir Merchant 2 2 2 6 Sujal Shah 7 6 3 Sudhir Merchant and Sujal Shah are Independent Directors 1 Excludes Directorships in foreign companies and private limited companies 2 Memberships | Chairmanships of only the Audit Committees and Stakeholders Relationship Committees of all public limited companies including the Company were considered. 2.4 Board meetings The Board meeting dates were normally determined well in advance. During 2017-18, the Board met 4 times. No. Day Date Venue 1 Friday April 28, 2017 Mumbai 2 Friday August 11, 2017 Atul 3 Wednesday November 15, 2017 Atul 4 Friday March 09, 2018 Mumbai
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