Governance
Main features of the Global Executive Committee (Global ExCo)
The Sompo Group’s highest executive committee
Top global executives of the Group meet together for the Global ExCo.
The Global ExCo is an advisory body to the Group CEO and serves as a place to have intensive discussion of key topics, such as Group growth strategy based on the future outlook and social environment as well as the progress in the business plan and addressing business challenges.
The most distinct feature of the Global ExCo is the sense of oneness and speed based on the three key principles set out when it was established, which are Candor, Group Best, and Fact Base. In the meetings, the Business CEOs and Group CEOs who are highly diverse with different nationalities and missions express their opinions frankly and have future-oriented discussion while sometimes leading to a new awareness and positive conflict. All members reconfirm the agreed matters, challenges recognized, etc. before the meeting is concluded and each member takes the next step promptly and surely in their own business/functional area. This way of decision-making and active, top-down approach represent “SOMPO -ness.”
| Candor | Candidly share challenges in each business/functional area and discuss to address them. Have in-depth discussion while sometimes playing devil’s advocate and creating positive conflict. |
|---|---|
| Group Best | Have discussion with a bird’s eye view of the entire Group as the highest executive committee of the Group. Refrain from speaking only for own business/ functional area and aim to maximize outcomes for the entire Group. |
| Fact Base | Focus on quantitative information and subjective facts (including qualitative information from third parties, such as investors) in the discussion. |
| Chairman | Group CEO |
|---|---|
| Members | Group CEO, Group COO (Moderator), CEO of Domestic P&C Insurance Business, CEO of Overseas Insurance and Reinsurance Business, CEO of Domestic Life Insurance Business, CEO of Nursing Care & Seniors Business, CEO of Digital Business, Chairman of Overseas M&A, Group CxOs |
* The Global ExCo is managed in a way to increase transparency of governance through proactive information sharing by the executives, such as reporting the summary of discussion to the Board of Directors each time and allowing the Directors to observe the meetings.
The Global ExCo meets five to six times a year. The topics are carefully selected and the discussion points are clarified beforehand to complete the necessary discussion within a limited amount of time, and active participation of all members are required on the day. In fiscal 2021, the members discussed mainly the newly-launched Mid-Term Management Plan, capital policy, shareholder return, initiatives to enhance enterprise value, Real Data Platform (RDP) strategy, new work style, etc.
In fiscal 2022, the Global ExCo will discuss the progress in existing businesses toward accomplishing the Mid-Term Management Plan, evaluation of new investment to boost profits, RDP strategy, etc. Group resource allocation conducive to selecting and executing the best corporate strategy based on the future outlook, including demographic change, and in response to rapid changes in the business environment, improvement of disclosure and communication with stakeholders to enhance enterprise value, etc. will also be examined further.
| Fiscal 2021 | Fiscal 2022 |
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