Corporate Governance

Good corporate governance principles and comprehensive risk management are essential to
building effective external relationships, and thus to the company's stability. These principles
coupled with our corporate values guide us through every aspect of our business.
Compliance with and application of them in the daily work is ensured at the highest level
through the functioning of several boards and committees.

BOARD OF DIRECTORS

The company follows established corporate governance best practices in its management and has five non-executive members on its Board of Directors, two of whom are independent and two are executive directors – the Chief Executive Director and the Executive Director. Non-executive directors, as well as the Chief Executive Director and the Executive Director, do not make an income based on their membership in the Board of Directors.

CENTRAL MANAGEMENT COMMITTEE

To further improve the decision-making process and corporate governance, since 2013 the Company has had a Central Management Committee consisting of the Chief Executive Director, Technical Director, Sales Manager and Finance Manager. The Central Management Committee holds monthly meetings, at which the members discuss strategic issues and risk management.

CREDIT CONTROL COMMITTEE

This Committee is in charge of customer receivables and debt, and its main tasks include the following:

  • Loan assessment and approval;
  • Customer assessment/ranking forms;
  • Settling customer debt;
  • Debt/guarantee coverage;
  • Credit monitoring and control;
  • Delineation of provisions related to credit risk.

HEALTH & SAFETY CENTRAL COMMITTEE

USJE's Health and Safety Central Committee provides strategic directions for initiatives to improve health and safety in our plant. It establishes effective processes to promote the full implementation of the TITAN Group's Health & Safety Policy. The Committee is chaired by the Chief Executive Director and is structured in 5 subcommittees: Safety Incidents, Safety Checks, Contractor Management, Guiding Indicators and Rules and Procedures. The common and ultimate goal is to protect the health and safety of our employees and our contractors' employees as one of the basic human rights in the workplace.

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE / CSR TASK FORCE

This Committee was established in 2009 and is in charge of integrating and implementing the TITAN Group's strategy at the local level. It is chaired by the Chief Executive Director and consists of the top management and the health and safety, environment and human resources managers. The CSR Committee meets four to six times a year, or in some cases monthly, to review and evaluate the action plans and achievements, as well as to initiate further improvements. To ensure further cohesion within the Group, the USJE CSR Committee has appointed one of its members as a representative to the Group's CSR Liaison Delegates' Network, which aims to improve internal communication, sharing and learning from the Group's best practices.

QUALITY AND ENVIRONMENTAL BOARD

The Quality and Environmental Board is responsible for establishing the company's Quality and Environmental Policy and setting the quality and environmental system targets. The Board also conducts internal quality and environmental audits and reviews the quality and environmental system.The Quality and Environmental Board identifies the environmental aspects and emergency situations related to environmental protection etc.