Bank’s governing bodies

Shareholder Meeting – the highest governing body of the Bank; its powers include, among others: examination and approval of financial statements, distribution of profit, discharging members of the Bank's governing bodies on the performance of their duties, amending the Bank's Articles of Association, selection and dismissal of Supervisory Board members and setting their remuneration. 

Supervisory Board – exercises permanent supervision over the Bank’s activity. Its powers include in particular: approving the Bank's long-term development plans, annual economic and financial activity plans, appointing and dismissing members of the Bank's Management Board and setting the terms of their remuneration. The Supervisory Board may establish standing or ad hoc committees to perform specific activities. Permanent committees of the Supervisory Board are: the Audit Committee and the Personnel Committee. The Supervisory Board has 12 members (11 men and 1 woman). Seven of the Supervisory Board members are not related to any shareholder with at least 5% of the Bank's shares. The Chair of the Supervisory Board is not the chairman of the Management Board. 

Management Board – is the executive body appointed by the Supervisory Board to manage all the Bank's operations. A detailed list of the Management Board's powers is on the Bank's website, in the section About the Bank > Corporate Bodies and Governance. The Management Board of Bank Millennium has 7 members (5 men and 2 women). 

Procedures regarding supervision, identification and management of economic, environmental and social matters. The Supervisory Board examines reports provided by the Management Board every two months regarding the key areas of the Bank's operation. The main subjects of the reports include implementation of the economic plan, analysis of the Bank's position on the market and vs. competitors, key external risks, conclusions from internal audits and implementation of the Bank's policies. Current decisions of the Supervisory Board are noted in minutes of its meetings. The Supervisory Board makes a global evaluation of the Bank's activity in Bank Millennium's Supervisory Board's Activity Report, which is published on the Bank's website.

Detailed information on Bank Millennium’s governing bodies and internal structure are available on the www.bankmillennium.pl website in the section About the Bank > Corporate Bodies and Governance.

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