The HPPC Board of Directors is the second statutory body of the Company, after the General Meeting of Shareholders. Based on the Articles of Association and Law 4548/2018 on public limited companies, it bears the responsibility for administration and management of the Company so it progresses towards achieving its goals.
The Members of the Board of Directors are elected by the shareholder HCAP SA, in accordance with the principles of transparency, suitability of persons, non-conflict of interest and respect for diversity. The board members serve a three (3) year term of office.
The HPPC Board of Directors has seven (7) members, two of whom are Executive Directors (the Chief Executive Officer and the Executive Director) and five of whom are Non-Executive Members including the Chairman of the Board. Under the Articles of Association, the roles and responsibilities between Executive and Non-Executive Members are clearly delimited and distinguished.
Audit and Risk Committee
The Audit and Risk Committee is a Committee of the Company’s’ Board of Directors (BOD), to which it reports.
The Committee is established upon decision of the BOD and is consisted of at least three (3) independent non-executive members of the latest.
The General Assembly can decide to appoint directly the President or the members of the Committee, as well as an external independent member, i.e. a member outside the BOD.
The members of the Committee, should have adequate technical experience and expertise. At least one member must have sufficient expertise and experience in audit and accounting matters, whilst the rest of the members must be financial and risk literate. The main purpose of the Committee is to support the BOD in terms of its responsibilities which mainly concerns the following:
regarding its role in Audit issues:
- Reviewing the adequacy of the System of Internal Controls and of the process to ensure compliance with laws and regulations.
- Reviewing the financial reporting process and ensuring the integrity of the financial statements.
- The selection procedure, as well as the monitoring of the performance and ensuring independence of the External Auditors.
- Monitoring the efficiency and performance of the Internal Audit Unit.
regarding its role in risk management issues:
- Monitoring the effectiveness and efficiency of the Risk Management Framework and the Company’s Risk Management Sector.
- Ensuring that the Company has clearly and adequately defined its Risk Strategy and Risk Appetite according to its business strategy, goals, corporate culture and ethics.
- Ensuring that the BOD is adequately informed about all matters related to the Company’s Risk Strategy and Risk Appetite.