Governance

Good Corporate Governance Structure

Pursuant to Law of the Republic of Indonesia No. 40 of 2007 on Limited Liability Company, the corporate governance structure is broadly outlined in the Company’s main organs, which are the General Meeting of Shareholders (GMS), Board of Commissioners, and Board of Directors. As stated in the Company's Articles of Association and applicable laws and regulations, each organ has an important role in implementing GCG and executing its functions, duties, and responsibilities for the Company’s interest.

GCG is applied systematically and continuously so that the GCG principles become references in Indocement’s daily activities. In managing the Company, the Board of Directors is supported by an effective management structure and supporting organs consisting of the Corporate Secretary, Internal Audit, and Safety Committee. In performing monitoring functions, the Board of Commissioners is supported by its supporting organs such as Audit Committee and Nomination and Remuneration Committee.

Each organ performs its duties, functions, and responsibilities independently for the Company’s interest in accordance with the laws and regulations, the Company's Articles of Association, and other applicable provisions.

The Company's Governance Structure is shown as follows:

Mechanism of Good Corporate Governance

To ensure seamless implementation of GCG principles and achieve the pre-determined goals, the Company has formulated sound corporate principles and generally accepted business ethics, which are commonly called as “GCG soft structures”. GCG soft structure is updated from time to time according to the needs and the development of the applicable laws and regulations. Until 2023, GCG soft structure of the Company is as follows: