155 Annual Report 2020 >> Our Governance Corporate Governance Framework Malaysia Airports operates with a clear and effective governance structure. With continuous guidance by the Board, the corporate governance structure remains robust and effective across the Group. Responsibility for good governance lies with the Board, and to ensure the effective discharge of its functions and responsibilities, the Board delegates its powers to the relevant Board Committees and Group Chief Executive Officer [Managing Director] as well as the Management Executive Committee (EXCO). The Board, in implementing corporate governance, ensures its accountability to the Company’s shareholders and other stakeholders. Malaysia Airports’ Corporate Governance Framework can be illustrated as follows: STAKEHOLDERS Board Audit Committee (BAC) INTERNAL AUDIT DIVISION Board Nomination and Remuneration Committee (BNRC) Board Procurement Committee (BPC) Board Finance and Investment Committee (BOFIC) Board Risk Management Committee (BRMC) BOARD OF DIRECTORS GROUP CHIEF EXECUTIVE OFFICER [MANAGING DIRECTOR] MANAGEMENT EXECUTIVE COMMITTEE (EXCO) COMPANY SECRETARY
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