May 21, 2013
Tokyo, May 15th 2013 - In order to enhance its corporate governance framework, Mitsubishi UFJ Financial Group, Inc. (‘MUFG’) will establish a Risk Committee and a Global Advisory Board. Details are as follows:
1. New Risk Committee
MUFG’s seeks to maintain a transparent and impartial corporate governance framework that emphasizes an external perspective. This includes the Nomination and Compensation Committee and the Internal Audit and Compliance Committee that report to the Board of Directors, and are chaired by an outside director and composed of a majority of outside members. However, in order to further strengthen that system and enhance the Group’s risk control framework a new Risk Committee is scheduled to be established in July 2013.
The new Risk Committee will be mainly composed of outside directors and outside experts and will deliberate on the status, control and management of all types of risk, and aim to strengthen the functioning of the Board of Directors by reporting and making recommendations to it.
Click here to read the full press release.
Re-disseminated by The Asian Banker