Vijayeswari Textiles Ltd acknowledges the importance and value of good corporate governance procedures and has selected best practices that they consider relevant and appropriate to the group taking account of its size and structure.
The Board’s overriding requirement when looking at what principles to apply to good governance are that the Company be run in the long term interest of the shareholders. In order to do this, the Company needs to effectively manage relationships with its employees, suppliers and customers and behave in an ethical manner with regard to the environment and society as a whole.
Board of Directors
Vijayeswari Textiles Ltd has a balanced board with professional from both experiences in varied fields. The current policy of the company is to have an appropriate mix of executive and independent directors to maintain the independence of the Board, and to separate the Board functions of governance and management.
Composition and category of director:
| Name |
Designation |
| Mr. A.L.Ramachandra |
Chairman & Managing Director |
| |
|
| Ms. Jayanthi Ramachandra |
Managing Director |
| |
|
| Capt. K.V.Narayanan |
Director |
| |
|
| Mr. Durai Ramaswamy |
Director |
| |
|
| Mr. N.Balakrishnan |
Director |
| |
|
| Mr. V.Dharmaraj |
Director |
| |
|
| Mr. P.Vijay Raghunath |
Director |
| |
|
| Mr. K.Selvaraj |
Director |
|
Management Review and responsibility
- Formal evaluation of officers
The compensation committee of the Board approves the compensation and benefits for all Executive Board Members as well as members of the Executive Council. Another committee, headed by the CEO, reviews, evaluates and decides the annual compensation of our officers from the level of Vice President, excluding members of the Executive Council. The compensation committee of the Board administers the 1998 and the 1999 Stock Option Plans.
- Board interaction with clients, employees, institutional investors, the government and the press
The Chairman, the CEO and the COO, in consultation with the CFO, handle all interactions with investors, the media and various governments. The CEO and the COO manage most of the interactions with clients and employees.
The Company seeks to clearly communicate the plans they are pursuing and the likely financial and wider consequences of those plans. These goals and plans have been set out in the Chairman’s Statement and the Operating Review and Financial Review. In addition, the Company seeks to regularly update shareholders through stock exchange announcements and wider press releases on its activities.
The Executive Directors regularly meet with institutional shareholders to discuss the Company’s performance and future prospects. Comments made and views communicated by the institutional shareholders at these meetings together with feedbacks from the Company’s advisors are reported back to the Board so that it can understand any shareholder issues.
The first Annual General Meeting since the Company has been a listed entity will provide an opportunity for shareholders to address questions to the Chairman or the Board directly. Published information, including regulatory news is available on the Vijayeswari website www.vtx.co.in
