Organization and Responsibilities of the Risk Management Committee
The Risk Management Committee of WT Microelectronics is a functional committee under the Board of Directors, with five members. 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, has the adaptability of supply chain risk management and operational risk management 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, Chairman of Taipei Exchange and Chairman of Taiwan Depository & Clearing Corporation. He has expertise in securities management, finance and corporate governance and possess the management ability of financial risk and legal compliance risk. 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 and possess the ability of accounting and to manage financial and taxation information risk. Chairman of the Board and the founder of the Company, Mr. Eric Cheng, possesses the leadership for an international company and has knowledge related to the development of the semiconductor industry and knowledge of component industry, and crisis response and management capabilities for strategic and operational risks. Chief Financial Officer, Ms. Cheryl Yang, has professional finance and accounting manager qualifications for more than ten years and possess the capability to supervise and manage the financial and accounting risk management of the Company and its subsidiaries. Accordingly, all members conform to the professional competence of risk management 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.
