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Board Advisory & Independent Directorship
An Independent Non-Executive Director (INED) is a member of a company’s board of directors who does not have any material or financial relationship with the company, its related corporations, or its officers that could interfere with the exercise of objective and independent judgment. In brief, an INED plays a key role in strengthening corporate governance and offering professional advice to support the company’s long-term performance.
Mr. Elango Subramanian
His Roles & Responsibilities
a. During his tenure as INED, Mr. Elango Subramanian participated in various corporate oversight and governance activities:
1) Remuneration Committee Member: Mr. Elango served as Chairman in 2017 and continued as a member from 2018 onwards. In this role, he was actively involved in reviewing the remuneration of the CEO and Executive Directors, with a focus on aligning compensation with individual performance and the company’s overall achievements. He evaluated the achievement of key performance indicators (KPIs) to ensure that compensation practices were fair and linked with performance. In short, he advised on performance-based remuneration packages and ensured that they received the collective concurrence from all committee members.
2) Audit Committee Member: Monitored internal audit function, reviewed financial statements, assessed risk and control frameworks.
3) Nomination Committee Member: Involved in providing advice regarding appointments, ensured independence and diversity of board composition as well as supported governance practices.
4) Routine Board Participation: As an INED, he provided oversight and independent input on business strategy, compliance, and risk management.
Previous Experience of the Lead Consultant as an Independent Board Member at a Publicly Listed Company
Appointment as Independent Non‑Executive Director (INED)
a. Mr. Elango Subramanian was appointed as an Independent Non‑Executive Director of Anacle Systems Limited on 24thNovember 2016.
b. He served in this capacity from his appointment until August 2021 and officially ceased all roles on 29th September 2021 (at the 2021 Annual General Meeting).
Completion of His Tenure on the Board
a. Retirement by Rotation: He retired by rotation at the 2021 AGM held on 29th September 2021 in accordance with the company's constitution.
b. Committee Exits: At the 2021 AGM, he retired from his INED role and ceased all committee memberships, including Remuneration, Audit & Nomination.