The Pharmacare system of Corporate Governance serves to safeguard proper administrative managerial and operative performances are conducted responsibly and creatively. Such surveillance is assigned to six committees through the Board of Directors for elaborate consideration prior to passing to the full Board – some of those committees are temporarily inactive:
- Audit Committee: Aids the Board of Directors to oversee the financial operation of the business in terms of: Data Analysis, Accounting Systems, Official Procedures, Financial Controlling and Internal Auditing, Communicating relevant financial affairs with shareholders, the public community and external auditors, long-term business planning and strategizing, financial budgeting and execution, risk plans and taxation matters.
- Corporate Governance, Compliance and Sustainability Committee: Aids the Board of Directors in corporate governance matters and in promoting sustainable management of activities. The committee monitors our compliance with laws, regulations and internal procedures to assure proper abidance by our dictated policies serving to maintain our reputation. The committee further superintends our product safety, manufacture quality, environmental parameters, privacy and copy rights criteria, GMP-requirements, Code of Conduct and beyond. Moreover, the committee is concerned with business development and mediating with the relevant governmental bodies. Finally, the committee looks into internal compliance audit plans and the Code of Ethics/ Conduct with potential implementations of changes/ updates on consulting with top management on major activities.
- Presidium Committee of the Board of Directors: Comprising both the Chairman and the largest investor in the company, it serves as both the Presidium and the Nomination Committee. The committee prepares proposals for new potential members of the Board and is concerned with succession plans.
- Financial Investments’ Committee: Aids the Board of Directors in considering and fulfilling financial and investment strategies and policies, such as acknowledging related policies and monitoring implementation. The committee also approves certain financial transactions including loans, particular tax matters and other financial affairs.
- Science and Technology Committee: In charge of deciding on investments within R&D and technological developments by means of overseeing strategy plans, scientific aspects of business development activities and technological trends.