Toward Sustained Growth
Taking the lead:
Implementing progressive initiatives
In terms of its administrative structure, which supports growth, Konica Minolta has been quick to take measures to strengthen corporate governance, such as adopting a committee system at the time of management integration in 2003. Specifically, the Board of Directors includes four independent outside directors, most with top management experience at other leading companies, and the majority of directors do not serve concurrently as executive officers. Moreover, a director who is not serving concurrently as an executive officer is elected as Chairman of the Board of Directors. In addition to these measures to further enhance the supervisory function of the Board of Directors, a great deal of authority is relegated to the executive officers to accelerate decision making. The Company is furthermore advancing such progressive measures as actively disclosing the standards of independence used for outside directors, director compensation, and other information related to corporate governance.
| Directors | 11 |
|---|---|
| Outside directors | 4 |
| Independent directors | 4 |
| Involvement of outside directors in setting compensation | Yes |
| Involvement of outside directors in selecting director candidates | Yes |
| Outside directors make up more than 50% of the Auditing Committee | Yes |
| Outside directors make up more than 50% of the Compensation Committee | Yes |
| Outside directors make up more than 50% of the Nominating Committee | Yes |
| Annual Board of Directors meetings | 14 |
| Directors'term of office | 1 year |
| Executive officer system | Yes |
