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• The performance of the company’s
internal audit function and inde-
pendent auditors.
President
• Alaa Saba
Members
• Mounir Abelnour
• Ahmed El Wakil
• Walid Sulaiman Abanumay
The Remuneration Committee
The Remuneration Committee’s pri-
mary purpose is to assist the Board in
its oversight of all matters relating to
director compensation. TheRemunera-
tion Committee:
• Determines the remuneration policy
of the company and makes recom-
mendations to the Board on the pol-
icy and structure for remuneration
and fees of senior management and
on the establishment of a formal and
transparent procedure for develop-
ing policy on such remuneration as it
may consider appropriate.
• Determines and agrees with the
Board the broad policy for the re-
muneration of the Board Executive
Directors, the Chairman, and other
members of executive management.
• Recommends, monitors, and notes
the level and structure of remunera-
tion for senior management.
• The fees and other payment arrange-
ments for Non-Executive Directors
are matters for consideration by a
sub-committee of the Board, con-
sisting of the Chairman and one or
more Executive Directors, which
shall make recommendations to the
Board as a whole.
President
• Alaa Saba
Members
• Mounir Abelnour
• Ahmed El Wakil
• Walid Sulaiman Abanumay
Corporate Governance
Committee
The Corporate Governance Committee
is appointed by the Board of Directors to
assist theBoard in fulfilling its responsi-
bilitieswith respect to four keymatters:
• Overseeing the development and the
regular assessment of GB Auto’s ap-
proach to corporate governance issues.
• Ensuring that such approach sup-
ports the effective functioning of GB
Auto, with a view to the best interests
of the shareholders and effective com-
munication between the Board of Di-
rectors and the management team.
• Overseeing the process, structure, and
effective system of accountability by
management to the Board of Directors
and by the Board to the shareholders,
in accordance with applicable laws,
regulations, and industry standards
for good governance practices.
• Carrying out the functions and respon-
sibilities of a nomination committee to
recommend to the Board of Directors
candidates for election or appoint-
ment to the Board of Directors.
President
• Alaa Saba
Members
• Mounir Abelnour
• Ahmed El Wakil
• Walid Sulaiman Abanumay
2016 ANNUAL REPORT
63