Companies listed on the Colombo Stock Exchange will have to employ a minimum two non-executive directors and make their resumes public, according to a draft Corporate Governance Code.
A third of each listed company board should comprise of non-executive directors, who will be annually required to submit a signed and dated declaration of their independence.
Besides a declaration of independence, the company's annual report should include a brief resume of each director spelling out his/her experience in relevant function areas.
Directors of listed companies will also have to declare the names and addresses of other companies which they hold directorships, the draft code released by the Securities & Exchange Commission said.
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