SUSTAINABILITY REPORT 2013-15

People Overview Self Managed Teams Mechanisation Safety Overview The Parivartan     Journey Progress on     Roadmap Incident Statistics Robust Governance Standardised     Processes Enhanced Awareness Capability Building Safety Infrastructure Safety Audits Quality Overview Top-down    Accountability Quality by Design Quality Culture     Transformation Quality Assurance Quality     Best Practices All Time Audit     Readiness Availability Overview Strategic Sourcing Risk Management Product    Rationalisation Success stories Environment Overview Roadmap Energy Management Emissions Water Waste Case Study KPIs Community Overview Focus Areas Education Livelihoods Healthcare Infrastructure     Initiatives Creating Change     Makers Productivity Overview Productivity Streams Case Study PACE Update Initiatives Engineering Excellence Overview Digitisation Automation Mechanisation Lean Manufacturing Capital Equipment Strategy Predictive Maintenance Continuous Improvement Overview Continuous     Improvement     at Work Best Practices Annexures GRI Index Acronyms Assurance Statement   Summary Report     CORPORATE GOVERNANCE BOARD OF DIRECTORS The Directors have expertise in the fields of strategy, management, finance, operations, science, technology, human resource development and economics. The Board provides leadership, strategic guidance, objective and an independent view to the Company's management while discharging its fiduciary responsibilities, thereby ensuring that the management adheres to high standards of ethics, transparency and disclosure. The Board continuously reviews the Company's governance, risk and compliance framework, business plans and organisation structure to align with global standards and competitive benchmarks. Whole-time Directors   As on March 31, 2015, the Board of Dr. Reddy's consists of 10 Directors Two Executive Directors, including the Chairman Eight Independent Directors, including a woman Director, as defined under the Companies Act, 2013, SEBI's Clause 49 of the Listing Agreement and the Corporate Governance Guidelines of the NYSE Listed Company Manual Independent Directors           For further details about the Board and its functioning, please refer to page no. 54 of our Annual Report 2014-15.   Remuneration of Directors The Company has a policy relating to the remuneration of Directors, Key Managerial Personnel (KMPs), Senior Management Personnel (SMPs) and other employees. The policy lays down remuneration principles and parameters to ensure that remuneration practices are competitive and reasonable, and in line with corporate and individual performance. The Executive Directors are appointed by shareholders' resolution for a period of five years. No severance fee is payable to the Executive Directors. Excepting the commission payable, all other components of remuneration to the Executive Directors are fixed and in line with the Company's policies. The remuneration for the Executive Directors, including the commission based on net profits of the Company, is recommended by the Nomination, Governance and Compensation Committee to the Board for consideration. The commission to be paid to the Executive Directors is decided by the Board every year, within the limits approved by the shareholders. The Independent Directors are entitled to receive sitting fees and reimbursement of any expenses for attending meetings of the Board and its Committees, as well as commission based on the net profits of the Company. For further details, please refer to page no. 57 of our Annual Report 2014-15.