Apacer is committed to maintaining a high standard of business ethics, a high responsibility and authority mechanism, and a high standard of governance in all parts of its business operations.
Board of Directors
Per Apacer's Articles of Incorporation, the Board of Directors consists of seven to nine members. The directors shall serve a term of three years and can be reelected. At present, the Board of Directors consists of seven members, with two of the members acting as Independent Directors. To assist the Board in discharging its responsibilities related to the compensation and benefits policies, plans, and programs, the Compensation Committee has been established according to article 14 of the Securities and Exchange Act.
Business Ethics and Integrity
Apacer views legal compliance as the foundation for corporate ethics and integrity. Each global business location abides by local laws and regulations. To ensure legal compliance and to avoid conflicts of interest, we have established the “Ethical Corporate Management Best Practice Principles” and the “Code of Ethical Conduct” and continuously keep track of policies and regulations that may affect business and financial operations, allowing us to conduct business activities based on ethical, integral, fair, and transparent principles.
We have additionally established an audit office with dedicated personnel to faithfully assess the effectiveness and reasonableness of internal control compliance. To proactively prevent unethical behaviors in business operations, we have also established a grievance mechanism for employees to report non-compliance with the company's financial, legal, policy, and ethical standards, as well as corruption in any form.