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  • OTEGroup
    • Vision & Strategy
    • Timeline
    • Our People
    • Integrated Management System
    • Research & Innovation
    • IT Innovation Center
    • Suppliers
    • Corporate Governance
    • Sponsorships
  • ΟΤΕ SA
    • Board of Directors
    • Management Team 
    • Organisational Structure
  • COSMOTE S.A.
    • Board of Directrors
    • Management Team
    • Organisational Structure
  • Subsidiaries
  • OTE Group Profile
  • Share
    • Share quotes
    • Share Buybacks
    • Dividends
    • Shareholders Structure
  • Financial Results
    • Financial Results OTE Group & OTE SA
    • Financial Statements of OTE Group Companies
    • OTE Annual Reports
    • Presentations
  • General Assemplies of Shareholders
  • Debt Info
    • Loans
    • Bonds
    • Credit Ratings
  • Corporate Governance
    • Board of Directors
    • Sustainability Reports
    • Transparency and Information Disclosure
    • Management Team
  • Newsroom
  • Investor Calendar
  • Contact
  • Homepage
  • Find out more about us
  • Life at OTE
  • Join our team
  • Your development
  • What we offer
  • Approach and Highlights
    • Sustainability Governance
    • Stakeholder Dialogue
    • Performance and Impact Measurement
    • Materiality Analysis
    • SRI Indices and Ratings
    • Contribution to UN SDGs
  • Environment
    • Energy & Climate Change
    • Circular Economy
    • Electromagnetic Fields
    • Environmental Awareness Actions
    • Environmental Performance Indicators
  • Society
    • Customers
    • Employees
    • Social Commitment
  • Governance
    • Compliance
    • Human Rights Management
    • Enterprise Risk Management
    • Business Continuity
    • Integrated Management System
    • Information Security and Data Privacy 
    • Responsible Purchasing and Supply Chain Management
  • Reports
    • Online Corporate Responsibility Reports
  • News
  • Video Library
  • Image Library
  • Contact Media Relations
  • Social Wall
    • Blog
      • OTE S.A.
      • Board of Directors
      • Board Committees

      Board Committees

      • Powers of OTEs Board of Directors
      • Board Committees
      • Remuneration Policy for the members of the Board of Directors according to articles 110 and 111 of Law 4548/2018
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      Powers of OTEs Board of Directors
      Board Committees
      Remuneration Policy for the members of the Board of Directors according to articles 110 and 111 of Law 4548/2018
      Content:1486048515835

      Audit Committee

      The Audit Committee of OTE S.A. was established in April 1999 within the legal framework in force and the principles of corporate governance in relation to companies whose securities are listed on a regulated market (listed companies).
      The Audit Committee constitutes a Committee of the Company’s Board of Directors (BoD), i.e. it is constituted only by non-executive Board members who are appointed by the Board of Directors and are, in their majority, independent non-executive as per applicable legislation, with the same term of office as the BoD members. In this context, the Audit Committee currently consists of three members, which are all independent non-executive members of the Board of Directors.

      The main purpose of the Audit Committee is to support the Board of Directors in the exercise of its duties to ensure the adequate and efficient operation of the Company's Internal Control System, i.e. all internal control mechanisms and procedures (especially in terms of financial reporting, risk management, internal audit, compliance and the monitoring of the statutory audit), which covers on a continuous basis the activities of the Company and contributes to its safe and efficient operation.

      The particular powers of the Audit Committee for the fulfillment of its purpose are set out in the Committee's Regulations and pertain to the following:

      • Internal Control System (ICS), (i.e. Internal Audit, Compliance and Corporate Risk Management Units)  
      • Procedure of Financial Reporting, Financial Statements and respective Mandatory Control.
      • Selection of statutory auditors or audit firms, oversight of their independence and work.
      • Oversight of the OTE Group Data Privacy Officer.
      • Related parties’ transactions of the Company.
      • Handling of complaints and reports with respect to accounting issues, issues of internal accounting or financial audits and handling of issues of fraud, corruption, of breach of policies and procedures of the Company, as well as applicable legislation. 
      The Audit Committee consists of the following members: Mr. Eelco Blok (Chairman-Independent Non-Executive Member of the BoD), Mr. Dimitrios Georgoutsos (Independent Non-Executive Member of the BoD) and Mr. Konstantinos Gkravas (Independent Non-Executive Member of the BoD).

      The Activities Report of the OTE Audit Committee for the fiscal year 2022 can be found here below.

      Activities Report of the OTE Audit Committee for the fiscal year 2022

      Remuneration and Nomination Committee

      The Remuneration and Nomination Committee is a committee of the Board of Directors of OTE S.A. which was established in July 2021, in accordance with Law 4706/2020 on corporate governance and the Hellenic Corporate Governance Code 2021, following a decision of the Board of Directors of the Company for the unification of its two separate -until then- committees (namely, the Compensation & Human Resources Committee that was established in 2004 and the BoD Nomination Committee that was established in 2019) in a joint committee and delegating to this joint Committee both the responsibilities provided for in the legislation in force for the remuneration committee and those provided for the nomination committee.
       
      The Remuneration and Nomination Committee has three members and consists exclusively of non-executive members of the Board of Directors, in their majority independent.

      The Chairman and the members of the Committee are appointed by the Company’s Board of Directors.

      The purpose of the Remuneration and Nomination Committee is to provide support and assistance to the Board in its duties regarding:
      • The remuneration of Board members and key management personnel of the Company, especially the head of the internal audit unit.
      • Ensuring the adequate staffing and the appropriate succession and continuity of the Board in order to effectively fulfill its role for the benefit of the Company and all stakeholders.
      The particular responsibilities of the Committee and the relevant procedures for the fulfilment of its aforementioned purpose, are described in its Regulation of Operations.

      Τhe Remuneration and Nomination Committee consists of the following members: Mr. Eelco Blok (Chairman-Independent Non-Executive Member of the BoD), Mr.  Konstantinos Gkravas (Independent Non-Executive Member of the BoD) and Mrs. Kyra Orth (Non-Executive Member of the BoD).

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