Annual Report 2011


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Grupa LOTOS S.A. - Integrated Annual Report 2011
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Supervisory Board Powers

The Supervisory Board exercises ongoing supervision over the Company’s operations.

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The Supervisory Board exercises ongoing supervision over the Company’s business, across all areas of its operations. The Supervisory Board performs its duties collectively, but it may also delegate its members to individually perform certain tasks or functions and may set up ad hoc or standing committees to exercise supervision in specific areas of the Company’s activities. Standing committees include the Audit Committee, Strategy and Development Committee and Organization and Management Committee.

Members of the Supervisory Board are appointed by the General Shareholders Meeting. The procedures to be followed by the Board are defined in the Company’s Articles of Association and the Rules of Procedure for the Supervisory Board. The documents are available on the Company’s website.