Page 86 - Crisil Annual Report 2023

Integrity Insight Impact
Report of the Directors on Corporate Governance
CRISIL’s corporate governance actions the principles engrained in its values, policies and day-to-day business philosophy. We firmly believe this alone can create differentiated, sustainable and value-driven growth for the Company.
The Code of Ethics is the keystone of CRISIL’s operations, guiding transparent and ethical policies and practices. This principle-based approach forms the Company’s core, ensuring sustainable on-year growth.
CRISIL adheres to the highest standards of corporate governance. Abiding with the letter and spirit of the Company’s mission, vision and values, combined with our endeavour for innovation and growth, helps us create value for our stakeholders.
The Directors present below the Company’s policies and practices on corporate governance.
Age
25% 50%
12.5%
A. Board of Directors (as at February 16, 2024)
Size and composition of the Board
12.5%
Nationality
12.5% 12.5%
12.5%
Gender Diversity
25%
50%
<58 years 58-65 years 66-70 years >70 years
India
United States of America
France
Canada
Male Female
The Board of Directors has eight members, of which seven (87.5%) are Non-Executive Directors and 25% represent women Directors. Four (50%) of the eight Board members are Independent Directors. The Chairman of the Board is a Non-Executive Director. As per the Articles of Association of the Company, the Board can have up to 15 members.
Board demographics
Percentage of Board positions
37.5%
50%
Non-Executive, Independent Directors Executive Director
Non-Executive Directors
75%
50%
Tenure
37%
Note:TheabovecharttakesintoconsiderationchangesinboardcompositioneffectedonFebruary16,2024,includingendoftenureofMrEwout Steenbergen as Non-Executive Director and Chairman with effect from the close of business hours on February 16, 2024 and the appointment of Mr Saugata Saha as an Additional Director (Non-Executive) with effect from February 17, 2024. Mr Yann Le Pallec was appointed as the Chairman of the Board w.e.f. February 17, 2024.
84
12.5%
<2 years
2-5 years
>5 and < = 10 years
Annual Report 2023
13%