"The main component of the corporate governance is the supervisory board, whose main function is the strategic decision-making for the company’s development. The board should be an advisor and a supervisor for the management and needs to be qualified and objective members to fulfill its responsibilities. Exactly, qualified, independent and effective board will be the management’s active partner.

The supervisory board consists of committees without which it would not be effective. Independent directors work permanently in the committees created by the board. Audit, risk management, nominations and compensation committees are the playfield for an independent director."

See the link: www.bm.ge