Organization and Responsibilities of the Risk Management Committee
The Risk Management Committee of WT Microelectronics is a functional committee under the Board of Directors. The risk management committee members is composed of three Independent Directors, Chairman of the Board and the Chief Financial Officer. Independent Director Mr. Terry Cheng is the convener and chairman.
The convener and Independent Director, Mr. Terry Cheng possesses experience in managing international companies and has been working in the semiconductors industry for over 40 years and is a professional manager with extensive experience in the electronics industry. Independent Director, Mr. Kung-Wha, Ding, has served as Chairperson of the Financial Supervisory Commission, Chairperson of Taipei Exchange and Chairperson of Taiwan Depository & Clearing Corporation. He has expertise in securities management, finance and corporate governance. Independent Director, Ms. Elaine Kung, has professional qualification as accountants in the Republic of China, the United States and the People’s Republic of China and is expert in finance and tax planning.
Chairman of the Board, Mr. Eric Cheng, possesses experience in establishing and managing a public company and the management capabilities for an international company and has knowledge related to the development of the semiconductor industry and knowledge of component industry, and professional leadership abilities and business strategy. Chief Financial Officer, Ms. Cheryl Yang, also has professional finance and accounting manager qualifications for more than ten years. Accordingly, all members conform to the professional competence required by the Committee.
The main functions of the Risk Management Committee are the following matters:
1.Review risk management policy.
2.Review the appropriateness of the risk management framework.
3.Review major risk management strategies including risk tolerance.
4.Review management report of major risk issues and supervise the improvement mechanism.
5.Report the implementation of risk management to the Board of Directors regularly.