| Committee Members |
NoMeetings
2020
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Committee Charter |
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The Committee consists of: Mr Matthieu Kiss (Chair), Mr Claude Piret (Vice Chair), Mr Wietze Reehoorn (member), Mr Avraam Gounaris (member), Mr JP Rangaswami (member) and Mr. Periklis Drougkas (member)
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20
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The Audit Committee was established in 1999 and operates in accordance with the provisions of the Bank of Greece Governor's Act No. 2577/2006and Greek Law 4449/2017 (article 44).
In accordance with law 4449/2017, as in force, the type of the Audit Committee, the term of office, the number and the qualities of its members are determined by the General Meeting of Shareholders. The members of the Committee are appointed by the Board of Directors or the General Meeting of Shareholders, upon recommendation of the Corporate Governance and Nominations Committee, while one member is the HFSF representative at the Board of Directors. The Chairman and the Vice Chairman of the Committee are appointed by the Committee members. The Committee is composed of at least three non-executive Directors, of which 75% (rounded to the nearest whole number) (excluding the HFSF Representative) are independent members of the Board.
Pursuant to the resolution of the Annual General Meeting of Shareholders of 30.07.2021, the Audit Committee remains a Committee of the Board of Directors, consisting of six (6) non-executive Board members, of which five (5) are independent according to the provisions of Article 9 par. 1 and 2 of Law 4706/2020 and one (1) is the HFSF Representative. The term of office of the Committee members that will be appointed by the Board of Directors in accordance with Article 44 par. 1 case c) of Law 4449/2017 shall follow their term of office as Board members, i.e. until the Annual General Meeting of year 2024 and shall, in any case, automatically expire if they cease to be members of the NBG Board.
In this context, the members of the Audit Committee were appointed by the Board, following recommendation of the Corporate Governance & Nominations Committee, at its session of 30.07.2021. On the same day the Committee convened and constituted into a body, appointing its Chair and Vice – Chair among its independent non-executive members. The members of the Committee satisfy the appropriateness criteria/qualifications set out in Article 44 of Law 4449/2017, as well as in the Audit Committee Charter. The Committee employs a specialized consultant who reports directly to the Chairman of the Committee. The Committee convenes regularly at least six times per annum or extraordinarily, whenever deemed necessary, keeps minutes of its meetings and reports to the Board every three months or more frequently if deemed necessary.
In March 2021 the Committee Charter was revised.