Governance
Introduction
CEO letter
Air SERBIA’s Story
Air Serbia in 2025 - year in review
Materiality analysis and stakeholder engagement
Environment
Economic value and connectivity
Social
Appendix
Nomination and selection of governance bodies The nomination and selection of Air Serbia's governance bodies reflect the company's ownership structure and its commitment to competent, accountable and diverse leadership. As the sole shareholder, the Republic of Serbia, acting through its authorized state representatives, holds the authority to nominate and appoint the members of the Supervisory Board. Appointments are made on the basis of professional qualifications, relevant expertise and integrity, taking into account the competencies required to oversee the company's strategic direction and its significant economic, environmental and social impacts.
The Supervisory Board, in turn, appoints the members of the Executive Board, selecting candidates with the operational, financial and managerial experience needed to lead the company's day-to-day business and implement its strategic and sustainability objectives. Selection criteria for both bodies emphasize aviation, financial, legal and management expertise, as well as a demonstrated commitment to responsible and ethical conduct. Diversity is considered an integral part of the nomination process. Air Serbia values balance in gender, age and professional background, reflected in the predominantly female composition of the Supervisory Board and the balanced gender representation across both Boards. Members are appointed for a term of four years with the possibility of reappointment in accordance with the company's statutory documents. Independence is assessed in the context of the company's state ownership and dual-board structure. The chair of the highest governance body acts through state representatives and remains entirely outside the company's executive structure, which safeguards the supervisory function and prevents conflicts of interest between ownership oversight and executive management. Executive Board members are non-independent by virtue of their executive roles, while the Supervisory Board exercises independent oversight of management.
Sustainability Report 27
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