Your browser does not support iframes.
Our Articles of Association provide that the Board of Directors may delegate its powers to one or more committees of the Board of Directors as it deems appropriate to the extent such delegation is permitted under the Israeli Companies Law. Each committee exercising powers delegated by the Board of Directors must include at least one statutory independent director, and the audit committee must include all of the statutory independent directors. The Board of Directors has appointed the standing committees listed below, as well as committees appointed from time to time for specific purposes determined by the Board of Directors. Membership on these Board committees is presented in the table below.We have adopted charters for our audit, human resources and compensation, corporate governance and nominating, and finance and investment committees, formalizing the committees’ procedures and duties.
The role of the corporate governance and nominating committee is to(i) identify individuals who are qualified to become directors;(ii) recommend to the Board director nominees for each annual meeting of shareholders; and(iii) assist the Board in establishing and reviewing corporate governance principles and promoting good corporate governance at Teva.All of the committee members must be determined to be independent as defined by the applicable NYSE rules and those of the SEC.
The role of the finance and investment committee is to assist the Board in fulfilling its responsibilities with respect to Teva’s financial and investment strategies and policies, including determining policies and guidelines on these matters and monitoring implementation. It is also authorized to approve certain financial transactions and review risk factors associated with management of Teva’s finances and the mitigation of such risks as well as various other finance-related matters. At least one of the committee’s members must be qualified as a financial and accounting expert under applicable SEC regulation and/or the Israeli Companies Law.
The role of the corporate responsibility committee is to oversee, on behalf of the Board Teva’s;(i) commitment to being a responsible corporate citizen,(ii) policies and practices for complying with laws, regulations and internal procedures;(iii) policies and practices regarding issues that have the potential to seriously impact Teva’s business and reputation; (iv) global public policy positions; and(v) community outreach.A majority of committee members must be determined to be independent as defined by the applicable NYSE rules and those of the SEC. The Chairperson of the audit committee must serve as a member of the committee.
Science and Technology Committee is primarily engaged in the review of Teva’s strategies with regard to its research and development activities, major research and development projects and sourcing opportunities from academic institutions and other parties, and brings its recommendations, when applicable, to the Board.