Main resonsibilties of the Supervisory Council

The Supervisory Council of Olainfarm consists of five members. A member of the Supervisory Council is elected for five years. The Supervisory Council shall adopt its decisions by a simple majority vote of the members present.

 A competent and experienced Supervisory Council is a prerequisite for the efficient operation of the company and decision-making, which contributes to the long-term value increase of the company. The Supervisory Council works in the interests of all shareholders and the public.

The main functions of the Supervisory Council:

– To represent the interests of JSC Olainfarm shareholders between meetings;
– To constantly monitor the activities of the Management Board within the framework specified in the Commercial Law and the Articles of Association.

The tasks of the Supervisory Council are defined in Section 292 of the Commercial Law, with the main ones as following:

– To engage in the strategy development process and to approve the strategy;
– To determine the financial and non-financial goals to be achieved;”
– To elect and recall members of the Management Board, to determine the amount of their remuneration;
– To monitor that the business of the company is conducted in accordance with the law, the articles of association and the decisions of the meeting of stockholders;
– To monitor the effectiveness of the internal control system.

Main resonsibilties of the Supervisory Council