Corporate Governance
IOG advocates and acts upon the principles of operational transparency and respect for shareholder rights. We believe that the basis for successful corporate governance is a sound and effective Board of Directors. In line with this principle, Board of Directors delegates various responsibilities and authority to Audit and Compensation Committee. Each Committee’s chairperson regularly reports to the Board on its activities and recommendations.
IOVTEC Organization Chart
Structure Chart
- Formulate, plan, and implement internal control and audit systems.
- Submit audit reports and track improvement effectiveness.
- Periodically track the improvement of audit deficiencies.
- Formulate and control the company’s operational direction.
- Manage and coordinate the operations of the group’s companies and departments.
- Formulate and analyse operational performance.
- Coordinate, plan, and execute the group’s maritime engineering projects and ship usage.
- Plan and execute the management and control of the group’s projects.
- Plan, introduce, and implement the group’s environmental, safety, and health regulations.
- Develop new types of exploration service projects that the group can undertake.
- Process data from various exploration surveys and underwater monitoring services.
- Manage the daily operations and budget control of the group’s various ships.
- Execute various ship leasing projects for the group.
- Plan, introduce, and implement operational guidelines for various ships.
- Comply with maritime regulations.
- Execute the group’s related exploration projects.
- Plan and schedule exploration project timelines.
- Develop offshore wind operation and maintenance engineering support and maritime exploration survey projects.
- Promote and develop ship leasing business.
- Evaluate, plan, and execute new domestic and international business strategies for the group.
- Track and monitor industry development issues.
- Evaluate and maintain customer relationships for the group.
- Plan and execute the company’s marketing strategies and activities.
- Coordinate accounting transactions and prepare financial statements
- Plan and execute company tax affairs and comply with various tax regulations.
- Plan and execute the company’s financial management and fund allocation
- Formulate, coordinate, control, and analyse budgets.
- Prepare and analyse management reports and establish financial report analysis data.
- Maintain investor relations.
- Plan and manage internal and external human resources, recruitment, and employee relations for the group.
- Manage salary, performance, training, and development for the group.
- Review and manage internal and external contracts for the company.
- Handle legal consultations and ensure company compliance with laws and regulations.
- Plan, supervise, and execute information security policies.
- Manage the group’s information systems.
- Design and maintain network communication structures and manage hardware and software maintenance and IT inventory.
- Develop, screen, and regularly evaluate suppliers.
- Manage inquiries, price comparisons, and subcontracting.
- Communicate and arrange delivery and scheduling, and handle payment processes.
