Board of Directors

Corporate Governance

Creating value for stakeholders and sustainable business continuity is the inherent duty of Pasargad Energy Development Company, and to ensure the realization of this important and the application of macro policies and approaches in an integrated and balanced manner at the level of all the companies of the group, as well as to create the possibility of continuous monitoring, the development of the corporate governance model has been considered in this group.

The development of this model is under the operating conditions and the large volume of activities and investments of this group in such a way that the possibility of standardization in planning, monitoring and control as well as the reporting model at the group level is made possible and the spread of the goals and approaches of the parent company in all elements of the holding is realized.

In this regard and the Pasargad Energy Development Group's corporate governance model, in addition to specialized and advisory committees, the following committees are foreseen at the highest governance level under the supervision of the CEO of the holding and the board of directors of each subsidiary company:

  • Sustainability Committee
  • Risk Committee
  • Appointments and compensation committee
  • Audit Committee

Sustainable development in Pasargad Energy Expansion Holding is a key value and this group is committed to developing its business based on the principles of sustainability, to ensure the continuity of the business, and extend its commitment to stakeholders, society, and the environment in all its decision-making elements. Accordingly, the holding has formed a sustainability committee at the highest level of corporate governance to ensure the compliance of the group's approaches and actions with the principles of sustainable development. This committee is responsible for policy-making and monitoring the group's performance in all areas of its activity by the concept of sustainable development.

The risk management committee forms an important part of the risk management framework and corporate governance, and its purpose is to provide comprehensive assistance to the management to achieve goals aligned with the company's strategic plan. This committee evaluates and controls the appropriateness of the group's risk management framework and reports the results to the board of directors and holding company.

The Appointments Committee has been formed to ensure the selection, evaluation, and appointment of qualified board members and CEOs of subsidiary companies. Some duties of the appointment committee are as follows:

  • Examining and meeting the requirements for the board of directors candidates and CEOs of subsidiary companies
  • Proposing the appointment and dismissal of the CEO and members of the board of directors of subsidiaries to the board of directors
  • Proposing candidates for membership in specialized committees to the board of directors
  • Evaluating the performance of CEOs and board members
  • Remuneration policy for board members, CEO

The purpose of the audit committee is to help the board of directors and holding in carrying out their supervisory responsibilities to ensure the following:

  • Ensuring compliance with laws and regulations
  • Ensuring compliance with the governance requirements of Pasargad Energy Development Company
  • Monitoring the proper functioning of internal audit and independent auditors
  • Ensuring compliance with accounting principles in financial transactions