Governance
Strong Values that Come through Great Governance
Lumax Industries has embedded transparency and accountability at every level of the Company. Lumax Industries’ corporate governance framework is intended to promote principled behaviour, informed and effective decision-making, and proper monitoring of compliance and performance, assuring long-term interests of shareholders being served.
Board Supervision
The Company’s governance structure is designed to foster principled actions, informed and effective decision-making, and appropriate monitoring of compliance and performance.
Lumax Industries’ Board includes Audit Committee, Nomination & Remuneration Committee, Share Transfer/Stakeholders Relationship Committee, Risk Management Committee and Corporate Social Responsibility Committee.
The Board of Directors and its committees monitor and consult the Management on progress of the organization. In addition, the Board and its committees examine and discuss the Company’s pledges and progress in areas such as inclusion and diversity, employee engagement, remuneration and benefits and compliance. Lumax Industries also has an internal team for managing environmental and social initiatives.
Board Diversity
Lumax Industries’ Board comprises a diverse group of highly qualified leaders in their respective fields.
Board’s Independence
Independent Directors
Executive Directors
Non-Executive Director
Respect for Human Rights
Lumax Industries promotes various initiatives to foster employees’ awareness of ‘Respect for Human Rights’. As part of the Company’s compliance education, Lumax Industries provides employees with training on specific issues, such as respect for human rights and The Prevention of sexual harassment (POSH). The Company aims to be a trusted brand towards the society, its employees and local communities. Respect is the integral part of Lumax’s values for all its stakeholders and it carries out corporate activities that would contribute to the coexistence and mutual prosperity.
Ethics and IntegrityLumax Industries’ Ethics and Integrity Policy serves as a framework for the Company’s ethical expectations of its workers. The Policy expresses the Company’s dedication to human rights and the principles that define Lumax Industries’ business practices: honesty, respect, secrecy, and compliance. When supplying goods and services to Lumax Industries or working on our behalf we require our suppliers, vendors, and other business partners to adhere to these standards.
Anti-Corruption and BriberyThe Company is aware of the threat that bribery and corruption can pose to the integrity and culture of Lumax Industries. The Company’s Anti-Corruption and Bribery Policy assists in keeping the necessary checks and balances in place, thereby, ensuring an ethical workforce.