Indonesia+CG+Roadmap

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D. 2.C. INFORMASI PADA SITUS WEB D. 2.C. INFORMATION ON COMPANY WEBSITE
PERUSAHAAN
Pengungkapan informasi pada situs web perusahaan Disclosure of information on company website
memberi manfaat kepada banyak pihak seperti provides benefits to many parties such as
pemegang saham, kreditur, regulator, pemasok, shareholders, creditors, regulators, suppliers,
debitur, maupun untuk perusahaan. Ketersediaan debtors, and to the company. The availability of
informasi pada situs web memudahkan para information on the website makes it easy for
pemangku kepentingan untuk mengakses informasi stakeholders to access comprehensive information
mengenai perusahaan secara komprehensif sebelum about the company before making a decision. As
mengambil keputusan. Sedangkan bagi perusahaan, for the company, the website allows delivery of
situs web memungkinkan penyampaian informasi unlimited information that can be done quickly and
yang tidak terbatas dan dapat dilakukan secara on time with minimal cost.
cepat dan tepat waktu dengan biaya yang minimal.
Di Indonesia, Pedoman Umum GCG belum In Indonesia, Code of GCG do not require or
mewajibkan atau mendorong perusahaan untuk encourage a company to disclose material
mengungkapkan informasi material di dalam situs information on company website. However, the
web perusahaan. Namun demikian, regulator pasar capital market regulator requires the Issuer or
modal telah mewajibkan Emiten atau Perusahaan Public Company to have a website and provide
21
Publik untuk memiliki situs web dan menyediakan some limited information .
beberapa informasi secara terbatas .
21

REKOMENDASI RECOMMENDATION
Untuk memberikan akses informasi yang cepat To provide quick and adequate information
dan memadai kepada investor maupun seluruh access to investors and stakeholders, Issuers and
pemangku kepentingan, Emiten dan Perusahaan Public Companies should be required to disclose
Publik perlu diwajibkan untuk mengungkapkan certain material information on the website.
informasi material tertentu melalui situs web. Information commonly published on the website
Informasi yang lazim dipublikasikan melalui situs includes the following: company profile, profiles
web antara lain terdiri dari: profil perusahaan, of Directors and Commissioners, employment
profil Direksi dan Dewan Komisaris, pedoman guidelines of Directors and Commissioners (board
kerja Direksi dan Dewan Komisaris (board charter), charter), information related to the AGM (notices,
informasi terkait RUPS (pemberitahuan, panggilan, summons, detailed agenda of the AGM, minutes of
agenda rinci RUPS, risalah RUPS, riwayat dividen), the AGM, dividend history), materials for investors/
materi untuk investor/media/publik, praktik GCG, media/public, good corporate governance
hubungan investor/alamat dan nomor kontak practices, investor relations/company address and
perusahaan, profesi penunjang perusahaan, dan contact phone numbers, professions supporting
informasi lainnya. the company, and other information.
Untuk memudahkan akses investor, baik investor To facilitate investor access, both domestic
domestik maupun investor manca negara, informasi investors and foreign investors, information on the
di situs web Emiten dan Perusahaan Publik perlu website of Issuers and Public Companies should be
diwajibkan untuk disajikan dalam dua bahasa, yaitu required to be presented in two languages, namely
Bahasa Indonesia dan Inggris. Indonesian and English.






21 Peraturan Nomor X.K.6 (2012) dan Peraturan Nomor IX.I.5 21 Regulation No.X.K.6 (2012) and Regulation No.IX.I.5 (2012)
(2012).

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E. PERAN DAN TANGGUNG JAWAB E. ROLES AND RESPONSIBILITIES OF THE BOARD
DEWAN KOMISARIS DAN DIREKSI OF COMMISSIONERS AND THE BOARD OF
DIRECTORS
E.1. TINJAUAN SINGKAT E.1. BRIEF OVERVIEW

Sistem tata kelola perusahaan Indonesia untuk The Indonesian corporate governance system for
badan usaha berbentuk perseroan terbatas merujuk a business entity in the form of a limited liability
pada sistem two board. Dalam hal ini Direksi dan company refers to a system of two boards. In this
Dewan Komisaris merupakan unsur penting bagi case Board of Directors and Board of Commissioners
implementasi prinsip-prinsip tata kelola perusahaan are important elements for the implementation
yang baik. Mekanisme check and balance yang jelas of good corporate governance principles. The
dan efektif harus diterapkan untuk menghindari mechanism of checks and balances that is clear and
potensi benturan kepentingan serta memastikan effective must be applied to avoid potential conflicts
bahwa keputusan yang dibuat adalah untuk of interest and ensure that the decisions taken are
kepentingan perusahaan. for the benefit of the company.

Peran dan tanggung jawab dari kedua dewan ini The roles and responsibilities of these two boards
diatur di UUPT dan Anggaran Dasar perseroan. are set out in the Limited Liability Company Law
Ketentuan yang lebih rinci diatur secara khusus and the Articles of Association of the company.
dalam regulasi sektoral, seperti perbankan, pasar More detailed provisions are specifically regulated in
modal, dan industri keuangan non bank. Dari sudut sectoral regulations, such as banking, capital market
tata kelola, KNKG mengakomodasi hal ini dalam and the non-bank financial industry. KNKG has
Pedoman Umum GCG. accommodated this in terms of governance in the
Code of GCG.



UUPT mengadopsi sistem two board yang tediri The Limited Liability Company Law has adopted a
dari Direksi dan Dewan Komisaris. Berdasarkan two board system consisting of Board of Directors
UUPT, Dewan Komisaris berperan untuk melakukan and Board of Commissioners. Based on the Limited
pengawasan dan memberikan nasihat kepada Liability Company Law, Board of Commissioners acts
Direksi, sedangkan Direksi berperan untuk to oversee and provide advice to Board of Directors,
mengelola kegiatan operasional perusahaan dengan while Board of Directors role is to manage company
orientasi kepentingan terbaik perusahaan. operations oriented to the best interests of the
company.
Dewan Komisaris dan Direksi diangkat oleh RUPS Board of Commissioners and Board of Directors are
berlandaskan pada hubungan fidusia (fiduciary appointed by the AGM based on fiduciary relationship.
relationship). Hubungan khusus ini menciptakan This special relationship creates fiduciary duties,
fiduciary duties, termasuk, duty of good faith (itikad including duty of good faith, duty of loyalty (loyalty to
baik), duty of loyalty (kesetiaan terhadap perusahaan), the company), duty of honesty (be honest), and duty
duty of honesty (bersikap jujur), dan duty of skill and of skill and care (capacity, competence, and prudence)
care (kapasitas, kompentensi, dan kehati-hatian) (Lipton dan Herzberg, 2000). OECD CG Principles
(Lipton dan Herzberg, 2000). Prinsip CG OECD recommend that the board of commissioners and
merekomendasikan agar Dewan Komisaris dan board of directors ensure the company’s strategic
Direksi memastikan pedoman strategis perusahaan, guidelines, effective supervision of the management,
pengawasan yang efektif terhadap manajemen, and responsibilities of board of Commissioners and
dan tanggung jawab Dewan Komisaris dan Direksi Board of Directors to the company and shareholders.
kepada perusahaan dan pemegang saham. Dalam In the case of Indonesia which uses the two board
hal Indonesia yang menggunakan sistem two board, system, the obligation of drafting strategic guidance
kewajiban penyusunan pedoman strategis ada pada is with the Board of Directors, while the Board of
Direksi, sedangkan Direksi diawasi dan diberi nasihat Directors is supervised and given advice by the Board
oleh Dewan Komisaris. of Commissioners.

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E.2. LINGKUP PERBAIKAN E.2. AREA OF IMPROVEMENT

Berdasarkan peraturan perundang-undangan yang Based on the laws and regulations in force on the
berlaku tentang peran dan tanggung jawab dari roles and responsibilities of Board of Commissioners
Dewan Komisaris dan Direksi, pada bagian ini akan and Board of Directors, the following matters are
diuraikan hal-hal sebagai berikut: described in this section:


E.2.A. PROSEDUR NOMINASI DAN E.2.A. PROCEDURES FOR NOMINATION AND
REMUNERASI ANGGOTA DEWAN REMUNERATION OF THE MEMBERS OF THE
KOMISARIS DAN DIREKSI BOARD OF COMMISSIONERS AND THE
BOARD OF DIRECTORS


Hubungan check and balance antara Dewan The check and balance relationship between
Komisaris dan Direksi berperan penting atas Board of Commissioners and Board of Directors
kesuksesan usaha perusahaan. Prinsip CG OECD is instrumental to the success of the company’s
mensyaratkan Dewan Komisaris dan Direksi business. OECD CG Principles require Board of
perusahaan untuk melakukan beberapa fungsi Commissioners and Board of Directors of the
pokoknya. Diantara fungsi tersebut adalah company to perform several basic functions. These
memastikan bahwa proses nominasi dan pemilihan functions among others ensure that the process of
anggota Dewan Komisaris dan Direksi berlangsung nomination and selection of the members of Board
secara transparan, wajar dan formal (OECD, 2013). of Commissioners and Board of Directors have
taken place in a transparent, fair and formal manner
(OECD, 2013).

Di Indonesia, berdasarkan UUPT, Dewan Komisaris In Indonesia, based on the Limited Liability Company
diberi mandat untuk memberhentikan sementara Law, the Board of Commissioners is mandated
Direksi dalam hal terjadi pelanggaran terhadap to suspend the Board of Directors in the event of
Anggaran Dasar . Namun demikian, Dewan violation of the Articles of Association . However,
22
22
Komisaris tidak secara khusus diberi mandat untuk the Board of Commissioners is not specifically
memilih, mengatur remunerasi dan mengaitkannya mandated to select, organize remuneration
dengan kinerja anggota Direksi. UUPT menyatakan and relate it to the performance of the Board of
bahwa besarnya remunerasi Dewan Komisaris dan Directors. The Limited Liability Company Law
Direksi ditetapkan oleh RUPS, namun RUPS dapat states that the remuneration amount for Board of
memberikan kewenangan kepada Dewan Komisaris Commissioners and Board of Directors is determined
23
untuk menetapkan remunerasi Direksi . by the GMS, but the GMS can give authority to the
Board of Commissioners to determine remuneration
of Directors .
23

Kecuali di sektor perbankan, Dewan Komisaris di Except in the banking sector, the Board of
Indonesia umumnya tidak memiliki fungsi nominasi Commissioners in Indonesia generally does not have
dan remunerasi. Begitu pula Emiten dan Perusahaan a nomination and remuneration function. Similarly,
Publik belum diwajibkan untuk memiliki fungsi Issuers and Public Companies are not required to
ataupun prosedur nominasi dan remunerasi untuk have a nomination and remuneration function or
Dewan Komisaris dan Direksi. procedure for Board of Commissioners and Board of
Directors.







22 UUPT pasal 105. 22 Article 105 of Limited Liability Company Law
23 UUPT pasal 96. 23 Article 96 of Limited Liability Company Law

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REKOMENDASI RECOMMENDATION

Praktik keteladanan international di bidang tata International exemplary practices in the field of
kelola perusahaan menunjukkan bahwa Dewan corporate governance show that the Board of
Komisaris memiliki kewenangan yang cukup dalam Commissioners has sufficient authority to perform
melakukan fungsi pengawasan terhadap Direksi the function of supervision over Board of Directors
diantaranya dalam hal nominasi dan pemberian in terms of nomination and remuneration, which is
remunerasi, yang dikaitkan dengan penilaian linked to the performance appraisal of Directors. This
kinerja Direksi. Hal ini perlu agar fungsi pengawasan is necessary so that the supervisory function of Board
yang dilakukan Dewan Komisaris terhadap of Commissioners over Board of Directors can function
Direksi dapat berfungsi secara optimal. Dengan optimally. By considering the restrictions stipulated
memperhatikan batasan yang telah ditetapkan in the Limited Liability Company Law, the regulator
dalam UUPT, regulator perlu menyusun ketentuan needs to develop provisions requiring Issuers and
yang mengharuskan Emiten dan Perusahaan Publik Public Companies to have formal and transparent
memiliki prosedur nominasi dan remunerasi yang procedures for nomination and remuneration and to
formal dan transparan serta mengungkapkannya disclose them in the annual report.
dalam laporan tahunan.

E.2.B. KUALIFIKASI KANDIDAT ANGGOTA DEWAN E.2.B. QUALIFICATIONS OF CANDIDATES MEMBER
KOMISARIS DAN DIREKSI FOR THE BOARD OF COMMISSIONERS AND THE
BOARD OF DIRECTORS

Kompetensi dan kapabilitas anggota Dewan Competence and capability of the member of Board
Komisaris dan Direksi, mempunyai peran penting of Commissioners and Board of Directors have an
dalam menentukan kesuksesan perusahaan. Untuk important role in determining the success of the
itu, dalam proses nominasi dan seleksi anggota company. To that end, in terms of nomination and
Dewan Komisaris dan Direksi, perlu adanya selection process member of Board of Commissioners
ketersediaan informasi yang cukup tentang kandidat and Board of Directors, enough information is needed
sehingga dapat diyakinkan bahwa hanya kandidat about the candidates so that it can be believed
yang memiliki kualifikasi tertentu yang akan dipilih. that only candidates with specific qualifications are
Pentingnya kualifikasi kandidat anggota Dewan selected. The importance of qualified candidates for
Komisaris dan Direksi dalam proses nominasi dan member of Board of Commissioners and Board of
seleksi ini dinyatakan sebagai salah satu prioritas Directors in the nomination and selection process is
dalam Reform Priorities in Asia: Taking Corporante stated as one of the priorities in the Reform Priorities
Governance to a Higher Level (OECD, 2011): “...The in Asia: Taking Corporate Governance to a Higher
board nomination process should be transparent Level (OECD, 2011): “...The board nomination process
and include full disclosure about prospective board should be transparent and include full disclosure
members, including their qualifications, with emphasis about prospective board members, including their
on the selection of qualified candidates...” qualifications, with emphasis on the selection of
qualified candidates...”


UUPT mengatur bahwa anggota Dewan Komisaris The Limited Liability Company Law stipulates that
dan Direksi dipilih oleh para pemegang saham members of Board of Commissioners and Board
24
dalam RUPS . Regulator pasar modal saat ini telah of Directors are elected by the shareholders at the
24
memiliki ketentuan tentang persyaratan umum GMS . Currently the capital market regulator has
bagi kandidat anggota Dewan Komisaris dan Direksi provisions on the general requirements for candidate
25
Emiten dan Perusahaan Publik . Namun demikian, members of Board of Commissioners and Board of
25
dalam praktik, para pemegang saham tidak memiliki Directors of Issuers and Public Companies . However,
informasi rinci tentang kualifikasi dan pengalaman in practice, shareholders do not have detailed
24 UUPT pasal 94 dan 111. 24 Article 94 and 111 of Limited Liability Company Law
25 Peraturan Nomor IX.I.6 tentang Direksi Dan Komisaris 25 Regulation No.IX.I.6 on Directors and Commissioners of Issuers
Emiten Dan Perusahaan Publik (2004). and Public Companies (2004)

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dari kandidat anggota Dewan Komisaris dan Direksi information about the qualifications and
sebelum pelaksanaan RUPS yang akan memilih experience of candidate members of Board of
kandidat tersebut. Commissioners and Board of Directors prior to the
GMS that will select these candidates.


REKOMENDASI RECOMMENDATION
Penetapan kualifikasi tentang kandidat anggota Determination of qualifications of candidate
Dewan Komisaris dan Direksi sangat penting agar member of Directors and Commissioners is very
pada saat pemegang saham harus memilih dalam important so that when shareholders must
RUPS, mereka memiliki keyakinan bahwa hanya vote in the GMS, they have the confidence that
kandidat yang memiliki kualifikasi tertentu dan only candidates who have certain qualifications
pengalaman yang cukup yang akan dipilih. Praktik and experience will be selected. International
keteladanan internasional di bidang tata kelola exemplary practices in the field of governance
mempersyaratkan bahwa kualifikasi kandidat anggota require that qualified candidate Directors
Dewan Komisaris dan Direksi harus ditetapkan dan and Commissioners shall be determined and
diungkapkan kepada pemegang saham paling tidak disclosed to shareholders at least at the time
pada saat panggilan RUPS dipublikasikan. Terkait GMS invitation is published. In this regard, the
dengan hal tersebut, ketentuan yang ada tentang existing provisions on qualifications of candidate
kualifikasi kandidat anggota Dewan Komisaris dan Directors and Commissioners need to be refined to
Direksi perlu disempurnakan agar dapat menampung accommodate the dynamics of development in the
dinamika perkembangan di bidang tata kelola dan field of governance and improve the performance
meningkatkan kinerja Emiten dan Perusahaan Publik. of Issuers and Public Companies.


E.2.C. PROGRAM ORIENTASI BAGI E.2.C ORIENTATION PROGRAM FOR
ANGGOTA DEWAN KOMISARIS NEW MEMBERS OF THE BOARD OF
DAN DIREKSI BARU COMMISSIONERS AND THE BOARD OF
DIRECTORS


Pemahaman terhadap aktivitas dan proses bisnis Understanding of company activities and business
perusahaan perlu didapat segera oleh anggota processes needs to be obtained immediately
Dewan Komisaris dan Direksi yang baru bergabung di by the members of Board of Commissioners
perusahaan. Hal ini penting agar dalam pelaksanaan and Board of Directors who recently joined the
tugasnya, mereka tidak ragu dan salah dalam company. This is important so that when executing
mengambil keputusan dikarenakan ketidakpahaman tasks they do not hesitate or are erroneous in
atas proses bisnis perusahaan. Dalam peraturan yang taking decisions due to misunderstanding of the
berlaku, belum ada ketentuan yang mewajibkan business process in their companies. There is no
Emiten dan Perusahaan Publik untuk memberikan provision in the current regulations that required
program orientasi (induction programme) kepada Issuers and Public Companies to provide an
anggota Dewan Komisaris dan Direksi yang baru orientation program (induction program) to the
bergabung. members of Board of Commissioners and Board of
Directors who have recently joined.

REKOMENDASI RECOMMENDATION

Emiten dan Perusahaan Publik perlu menyediakan Issuers and Public Companies should provide an
program orientasi bagi anggota baru Dewan orientation program for new members of Board
Komisaris dan Direksi di lingkungan perusahaannya of Commissioners and Board of Directors so that
agar proses adaptasi ke dalam lingkungan the adaptation process into their environment
perusahaan berlangsung lancar. Untuk mendorong goes smoothly. To ensure that implementation
implementasi program ini berjalan secara efektif, of the program runs effectively, it needs to be

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maka program ini perlu didorong oleh regulator encouraged by the capital market regulator and its
pasar modal dan diungkapkan ketaatannya di compliance disclosed in the annual report.
laporan tahunan.

E.2.D. PENGETAHUAN DAN PEMAHAMAN E.2.D. KNOWLEDGE AND UNDERSTANDING OF
TENTANG FIDUCIARY DUTIES FIDUCIARY DUTIES

Tugas dan tanggung jawab anggota Dewan The duties and responsibilities of members of
Komisaris dan Direksi mencakup antara lain Board of Commissioners and Board of Directors
mengarahkan dan menyelesaikan masalah internal, include, among others, to direct and resolve
serta berhubungan dengan pihak eksternal. Untuk internal problems as well as dealing with external
itu, agar dapat mengetahui hak dan kewajibannya parties. To that end, in order to understand these
dalam pelaksanaan tugas, anggota Dewan Komisaris rights and obligations in performance of their
dan Direksi perlu memiliki pengetahuan dan duties, Board of Commissioners and Board of
pemahaman yang memadai tentang fiduciary Directors should have sufficient knowledge and
duties. Khusus untuk anggota Dewan Komisaris understanding of fiduciary duties. Especially for
dan Direksi Emiten atau Perusahaan Publik, the members of Board of Commissioners and
pemahaman tentang fiduciary duties menjadi lebih Board of Directors of an Issuer or Public Company,
penting, karena sifat dari perusahaan terbuka yang the understanding of fiduciary duties becomes
berlandaskan pada prinsip keterbukaan berbeda more important, because of the nature of a public
dengan perusahaan tertutup. Begitu pula unsur company based on the principles of openness
pertanggungjawaban kepada publik menuntut in contrast to a closed company. Similarly, the
anggota Dewan Komisaris dan Direksi Emiten atau element of accountability to the public requires the
Perusahaan Publik untuk lebih memahami tugas dan members of Board of Commissioners and Board of
peranannya. Directors of the Issuer of Public Company to better
understand their roles and duties.


REKOMENDASI RECOMMENDATION

Peningkatan pengetahuan dan pemahaman Increased knowledge and understanding
tentang fiduciary duties kepada anggota Dewan of fiduciary duties for members of Board of
Komisaris dan Direksi Emiten dan Perusahaan Commissioners and Board of Directors of Issuers
Publik sangat perlu dilakukan agar tugas dan and Public Companies is extremely necessary
tanggungjawab kepada pemegang saham publik so that the duties and responsibilities to public
dapat dilaksanakan dengan baik. Untuk mencapai shareholders can be carried out properly. To
tujuan tersebut, perlu adanya kebijakan perusahaan achieve these objectives, there is need for a
yang mendorong anggota Dewan Komisaris corporate policy that encourages members of
dan Direksi Emiten dan Perusahaan Publik untuk Board of Commissioners and Board of Directors
mengikuti pendidikan dan pelatihan secara terus- of Issuers and Public Companies to participate in
menerus yang memungkinkan anggota Dewan education and training on an ongoing basis which
Komisaris dan Direksi untuk melaksanakan fiduciary enable members of the Board of Commissioners
dutiesnya dengan baik. and Board of Directors to carry out their fiduciary
duties well.

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Grafik 8 Pengungkapan Frekuensi Rapat Dewan Komisaris dan Direksi
graph Disclosure of Frequency of Meetings of the Board of Commissioners and Board of Directors

400
350
300
>12
250
200 10 sd 12
150 7 sd 9
100
4 sd 6
50
1 sd 3
0
Number Dewan Komisaris Direksi Dewan Komisaris Direksi Dewan Komisaris Direksi
Of Board of Commissioners Board of Directors Board of Commissioners Board of Directors Board of Commissioners Board of Directors
Issuers 2010 2011 2012



2010 2011 2012
Frekuensi Rapat Dewan Direksi Dewan Direksi Dewan Direksi
Frequency of Meeting Komisaris Board of Komisaris Board of Komisaris Board of
Board of Directors Board of Directors Board of Directors
Commissioners Commissioners Commissioners
1 sd 3 60 11 74 19 79 18
4 sd 6 112 30 130 46 153 46
7 sd 9 16 16 24 15 26 17
10 sd 12 37 92 50 112 43 118
>12 31 113 54 146 43 164
Tidak Mengungkapkan 186 180 121 115 150 131
Not Disclosed
Sumber/Source: OJK, 2013


E.2.E. RAPAT DEWAN KOMISARIS DAN E.2.E. MEETING OF BOARD OF COMMISSIONERS
DIREKSI AND BOARD OF DIRECTORS
Koordinasi pelaksanaan tugas Dewan Komisaris Coordinating the implementation of the tasks
dan Direksi dapat diwujudkan dalam bentuk rapat of board of commissioners and directors can be
terpisah maupun rapat gabungan, berupa rapat realized in the form of separate meetings and
Dewan Komisaris yang mengundang Direksi. Rapat joint meetings, such as Board of Commissioners
yang terencana dengan baik, dengan bahan yang meetings that invite the Directors. A well-planned
lengkap akan sangat mendukung terwujudnya meeting with complete materials will very much
hasil yang optimal dari rapat, berupa pengambilan support the realization of optimal meeting results
keputusan yang efisien dan efektif. Di Indonesia, along with decision making that is efficient and
Emiten atau Perusahaan Publik telah diwajibkan effective. In Indonesia, Issuers and Public Companies
untuk mengungkapkan jumlah rapat dan tingkat are required to disclose the number of meetings
kehadiran anggota Dewan Komisaris dan Direksi . and attendance of the members of Board of
26
Commissioners and Board of Directors .
26
Grafik 8 di atas memperlihatkan informasi Graph 8 above shows information on the number
jumlah Emiten dan Perusahaan Publik baik yang of Issuers and Public Companies that disclosed
mengungkapkan maupun tidak mengungkapkan or not disclosed the frequency of meetings of
26 Peraturan Nomor X.K.6 tentang Penyampaian Laporan 26 Regulation No.X.K.6 on Submission of Annual Report of
Tahunan Emiten atau Perusahaan Publik (2012). Issuer or Public Company (2012)

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Grafik 9 Pengungkapan Frekuensi Rapat Gabungan Dewan Komisaris dan Direksi
graph Disclosure of Frequency of Joint Meetings of Board of Commissioners and Board of Directors


280
180 Frekuensi Rapat
160 Meeting Frequency 2010 2012
140 1 sd 3 21 23
120 >12
4 sd 6 45 61
100
10 sd 12 7 sd 9 16 14
80
60 7 sd 9 10 sd 12 29 43
40 >12 24 23
4 sd 6
20 Tidak Mengungkapkan 307 330
0 1 sd 3 Not Disclosed
Number 2010 2012
of Issuers

Sumber/Source: OJK, 2013
frekuensi rapat Dewan Komisaris dan Direksi dalam Board of Commissioners and Board of Directors
laporan tahunan selama 3 tahun, 2010-2012 . in the annual report for three years, 2010-
27
27
Khusus untuk tahun 2012, terdapat sekitar 73.5% 2012 . Particularly for the year 2012, there were
Emiten dan Perusahaan Publik yang telah melakukan approximately 73.5% Issuers and Public Companies
pengungkapan frekuensi rapat Dewan Komisaris dan who made disclosures of the frequency of meetings
Direksi. Sekitar 31% Emiten dan Perusahaan Publik of Board of Commissioners and Board of Directors.
menyatakan mengadakan rapat Dewan Komisaris Approximately 31% Issuers and Public Companies
antara 4 sampai dengan 6 kali dalam setahun; stated having held Board of Commissioners meetings
sedangkan 57% mengadakan rapat Direksi lebih dari between 4 (four) to 6 (six) times a year; while 57%
10 kali dalam setahun. held Board of Directors meetings more than 10 (ten)
times a year.

Sedangkan Grafik 9 memperlihatkan pengungkapan Source: OJK, 2013Meanwhile, Graph 9 shows
frekuensi rapat gabungan antara Dewan Komisaris disclosure of the frequency of joint meetings
dan Direksi dalam laporan tahunan Emiten dan between Board of Commissioners and Board of
Perusahaan Publik pada tahun 2010 dan 2012. Terlihat Directors in the 2010 and 2012 annual reports of
bahwa sebanyak 33.2% Emiten dan Perusahaan Issuers and Public Companies. It appears from
Publik telah mengungkapkan frekuensi rapat the graph that as many as 33% Issuers and Public
gabungan tersebut dalam laporan tahunan 2012; Companies disclosed the frequency of joint meetings
dan dari jumlah tersebut 16.2% diantaranya memiliki in the 2012 annual report, and of that number 16% of
frekuensi rapat gabungan lebih dari 6 kali dalam them had a joint meeting frequency of more than 6
setahun. times a year.


REKOMENDASI RECOMMENDATION
Terkait dengan rapat Dewan Komisaris dan Direksi, Associated with the meetings of Board of
praktik keteladanan internasional merekomendasikan Commissioners and Board of Directors, international
hal-hal sebagai berikut: keharusan rapat terpisah exemplary practices recommend the following:
dan rapat gabungan diselenggarakan dalam separate meetings and joint meetings should be held
batasan minimal tertentu, yaitu 6 kali dalam setahun; in a certain minimum limit, namely 6 times a year;

27 Jumlah Emiten dan Perusahaan Publik yang meyampaikan 27 Number of issuer and public company that submitted annual
kepada regulator dan dianalisa Laporan Tahunannya pada report to regulator and analyzed in year 2010: 442, year 2011:
tahun 2010 sebanyak 442, tahun 2011 sebanyak 453, dan 453 and year 2012: 494
tahun 2012 sebanyak 494.

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penyusunan jadwal rapat dan agenda yang akan preparation of meeting schedule and agenda to be
dibahas pada awal tahun; dan penyampaian materi discussed at the beginning of the year; and delivery
rapat yang terjadwal sekurang-kurangnya 5 (lima) of meeting material scheduled at least 5 (five)
hari kerja sebelum rapat dilaksanakan. working days before a meeting takes place.

Meskipun sudah cukup banyak Emiten dan There are enough Issuers and Public Companies
Perusahaan Publik yang menyelenggarakan that hold joint meetings with such frequency
rapat gabungan dengan frekuensi seperti praktik practiced internationally, but given the prevailing
internasional, namun mengingat ketentuan yang conditions they have not entirely accommodated
berlaku belum mengakomodasi hal di atas, regulator the above. Therefore, the regulator needs to
perlu mempertimbangkan praktik keteladanan consider international exemplary practices in
di atas dalam menyusun ketentuan tentang rapat developing the provisions of meetings of Board of
Dewan Komisaris dan Direksi. Commissioners and Board of Directors.


E.2.F. RANGKAP JABATAN ANGGOTA E.2.F. CONCURRENT POSITION BY MEMBERS OF
DEWAN KOMISARIS DAN DIREKSI BOARD OF COMMISSIONERS AND BOARD
OF DIRECTORS
Perangkapan beberapa jabatan sekaligus, secara Several positions concurrently performed at
berlebihan, dapat berakibat anggota Dewan the same time and in excess, can result in
Komisaris dan Direksi tidak fokus dan akuntabel members of Board of Commissioners and Board
dalam menjalankan fiduciary duties yang dapat of Directors to not focus and not accountable in
merugikan perusahaan. Khusus untuk Emiten carrying out fiduciary duties, thus detrimental to
dan Perusahaan Publik, rangkap jabatan secara the company. Especially in terms of Issuers and
berlebihan juga dapat merugikan pemegang saham. Public Companies, excessive concurrent positions
UUPT dan ketentuan pasar modal belum mengatur can also be detrimental to shareholders. The
mengenai rangkap jabatan anggota Dewan Limited Liability Company Law and the provisions
Komisaris dan Direksi Emiten dan Perusahaan Publik. governing the capital market have not regulated
double positions by members of Board of
Commissioners and Board of Directors of Issuers
and Public Companies.


REKOMENDASI RECOMMENDATION
Praktik keteladanan internasional mensyaratkan International exemplary practices require
pembatasan rangkap jabatan bagi anggota Dewan limiting double positions by members of Board
Komisaris dan Direksi. Hal ini bertujuan untuk of Commissioners and Board of Directors.
memungkinkan anggota Dewan Komisaris dan This is intended to allow members of Board of
Direksi untuk fokus pada pelaksanaan fiduciary duties Commissioners and Board of Directors to focus on
mereka. Oleh karena itu regulator pasar modal perlu the implementation of fiduciary duties. Therefore,
mengadopsi ketentuan mengenai rangkap jabatan the capital market regulator needs to adopt
ini, dan mengatur pengungkapannya. provisions regarding double position and govern its
disclosure.

E.2.G. BATASAN PERIODE MENJABAT E.2.G. LIMITATION TO THE TENURE OF
KOMISARIS INDEPENDEN INDEPENDENT COMMISSIONERS

Kedudukan Komisaris Independen sangat The Independent Commissioner’s position is
kritikal agar pengambilan keputusan Dewan critical so that decision-making by the Board
Komisaris bersifat objektif dalam mengevaluasi of Commissioners is objective in evaluating the
kinerja manajemen perusahaan. Dari perspektif company’s management performance. From
keagenan, keberadaan Komisaris Independen the agency perspective, the existence of an

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dapat mengurangi benturan kepentingan antara independent commissioner can reduce conflicts
pemegang saham dengan manajemen perusahaan, of interest between shareholders and the
dikarenakan fungsi pengawasannya dapat company management, because the independent
dilakukan dengan menyuarakan pendapat yang commissioner in exercising oversight may
independen dalam rapat (Solomon dan Solomon, provide independent opinions in the meetings
2004). Komisaris Independen berperan penting (Solomon and Solomon, 2004). The Independent
dalam hal kepentingan manajemen, perusahaan, Commissioner plays an important role in terms
dan pemegang saham berbeda, seperti dalam of the interests of management, the company,
pengambilan keputusan atas aksi korporasi. and shareholders differently such as in making
Independensi anggota Komisaris Independen decisions on corporate action. The independence of
tergantung kepada beberapa hal, di antaranya lama an Independent Commissioner depends on several
periode menjabat sebagai Komisaris Independen di things, among them the length of period serving as
perusahaan tersebut. independent commissioner of the company.

UUPT mengatur bahwa independensi Komisaris The Limited Liability Company Law stipulates
Independen tergantung pada ketiadaan afiliasi that the independence of an Independent
dengan pemegang saham utama perusahaan, Commissioner is dependent on the absence of
anggota Direksi, dan/atau anggota Dewan affiliations with the company’s main shareholder,
28
Komisaris lainnya . Di pasar modal, ketentuan the Board of Directors, and/or other members
independensi ini diperluas di antaranya mencakup of the Board of Commissioners . In the capital
28
hubungan afiliasi dengan Emiten atau Perusahaan market, the provisions of this independence have
Publik, anggota Dewan Komisaris dan Direksi, dan been extended and included affiliations with the
pemegang saham utama, serta tidak mempunyai Issuer or Public Company, members of Board of
hubungan usaha dan saham di Emiten atau Commissioners and Board of Directors, and major
29
Perusahaan Publik tersebut . shareholders, and does not have a business and
shareholding relationship in the Issuer or Public
Company .
29
REKOMENDASI RECOMMENDATION

Praktik keteladanan internasional mensyaratkan International exemplary practices require that the
bahwa independensi Komisaris Independen di independence of an Independent Commissioner
antaranya tergantung pada lama periode menjabat among others depends on the length of period
sebagai Komisaris Independen. Pada umumnya, serving as Independent Commissioner. In general,
batasan periode jabatan Komisaris Independen the post of Independent Commissioner has a
adalah maksimal 9 (sembilan) tahun atau 3 (tiga) limitation period of a maximum of 9 (nine) years
periode jabatan. Oleh karena ketentuan yang or 3 (three) office periods. Because the provision
berlaku belum mengatur hal ini, regulator pasar on this subject does not exist, the capital market
modal perlu menyempurnakannya dengan regulator needs to make improvements to adopt
mengadopsi ketentuan tentang batasan periode provisions on limitation period of the Independent
jabatan Komisaris Independen. Commissioner’s position.


E.2.H. PEDOMAN KERJA DEWAN E.2.H. EMPLOYMENT GUIDELINES FOR BOARD
KOMISARIS DAN DIREKSI OF COMMISSIONERS AND BOARD OF
DIRECTORS

Pedoman kerja (board charter) untuk Dewan Employment guidelines (board charter) for
Komisaris dan Direksi mencakup antara lain tugas Board of Commissioners and Board of Directors
dan fungsi, wewenang dan tanggung jawab yang include, among others, duties and functions,
28 UUPT pasal 120 (2). 28 Article 120(2) of Limited Liability Company Law
29 Peraturan Nomor IX.I.5 tentang Pembentukan dan Pedo- 29 Regulation No.IX.I.5 on Formation and Implementation
man Pelaksanaan Kerja Komite Audit (2012). Guidelines for Audit Committee (2012)

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mengikat secara hukum Dewan Komisaris dan powers and responsibilities that legally bind the
Direksi. Oleh karena itu, pedoman kerja ini dapat Board of Commissioners and Board of Directors.
berfungsi sebagai panduan dan landasan hukum Therefore, these employment guidelines can serve
untuk bertindak bagi Dewan Komisaris dan Direksi as a guide and legal basis to act for the Board of
dalam menjalankan fiduciary duties. Saat ini UUPT Commissioners and Board of Directors in carrying
dan ketentuan pasar modal belum mengatur secara out fiduciary duties. Currently the Limited Liability
spesifik mengenai pedoman kerja bagi Dewan Company Law and capital market provisions
Komisaris dan Direksi Emiten dan Perusahaan Publik. have not specifically regulated the employment
guidelines for the Board of Commissioners
and Board of Directors of Issuers and Public
Companies.

REKOMENDASI RECOMMENDATION

Menurut praktik keteladanan internasional di bidang According to international exemplary practices
tata kelola, perusahaan wajib memiliki pedoman in the field of governance, a company must
kerja bagi Dewan Komisaris dan Direksi sebagai have employment guidelines for its Board of
panduan pelaksanaan tugas dan wewenangnya. Commissioners and Board of Directors to guide
Oleh karena itu, Emiten dan Perusahaan Publik perlu the implementation of duties and responsibilities.
diwajibkan untuk memiliki pedoman kerja dan Therefore, Issuers and Public Companies should
mengungkapkannya di laporan tahunan. be required to have employment guidelines and
disclose them in the annual report.

E.2. I. KEBERAGAMAN KOMPOSISI E.2. I. DIVERSITY FOR THE COMPOSITION OF THE
DEWAN KOMISARIS DAN DIREKSI BOARD OF COMMISSIONERS AND THE
BOARD OF DIRECTORS
Globalisasi usaha meningkatkan harapan investor Business globalization increases expectations
dan menuntut keahlian dari Dewan Komisaris of investors and requires expertise of Board of
dan Direksi perusahaan yang semakin tinggi dan Commissioners and Board of Directors of the
kompleks untuk dapat memenuhi harapan tersebut. company that are increasing and complex to be
Komposisi Dewan Komisaris dan Direksi yang able to meet these expectations. The diversity
beragam akan mendorong pengambilan keputusan of the composition of Board of Commissioners
yang lebih objektif dan komprehensif dikarenakan and Board of Directors will encourage more
keputusan diambil dengan memperhatikan objective and comprehensive decision-making
berbagai sudut pandang dan kepentingan. because decisions are taken by considering various
viewpoints and interests.

Keberagaman komposisi Dewan Komisaris dan The diversity of the composition of Board of
Direksi antara lain mencakup kualifikasi akademik, Commissioners and Board of Directors include
keahlian, usia, dan gender. Sejalan dengan hal academic qualifications, expertise, age, and
tersebut perusahaan perlu didorong untuk gender. In line with the above the company should
memiliki kebijakan yang mendorong partisipasi be encouraged to have policies that motivate
seluruh pemangku kepentingan atau tidak bersifat participation of all stakeholders and are not
diskriminatif. Salah satu opsi kebijakan yang diajukan discriminatory. One of the policy options proposed
OECD untuk memperbaiki proses nominasi dan by OECD to improve the nomination and selection
seleksi Dewan Komisaris dan Direksi perusahaan process of Board of Commissioners and Board of
adalah dengan memperluas cakupan kandidat Directors of the company is to expand the scope of
yang memenuhi kualifikasi melalui peningkatan qualified candidates through increased diversity in
keberagaman dalam proses pencarian kandidat the candidate search process (OECD, 2013).
(OECD, 2013).

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UUPT dan ketentuan pasar modal saat ini belum The Limited Liability Company Law and current
mengatur mengenai keberagaman komposisi capital market provisions have not been set on
Dewan Komisaris dan Direksi Emiten dan Perusahaan the diversity of the composition of the Board of
Publik. Commissioners and Board of Directors of Issuers
and Public Companies.

REKOMENDASI RECOMMENDATION
Praktik keteladanan internasional di bidang tata International exemplary practices in the field of
kelola mendorong perlunya keberagaman dalam governance encourage the need for diversity in the
komposisi Dewan Komisaris dan Direksi dan composition of Board of Commissioners and Board
memiliki kebijakan yang tidak bersifat diskriminatif. of Directors and are not discriminatory. In this
Berkaitan dengan hal tersebut, Emiten dan regard, Issuers and Public Companies should be
Perusahaan Publik perlu didorong untuk menyusun encouraged to develop a policy on diversity of the
kebijakan tentang keberagaman komposisi composition of Board of Commissioners and Board
Dewan Komisaris dan Direksi dan kebijakan anti- of Directors as well as an anti-discriminatory
diskriminatif. Selanjutnya, kepatuhan atas kebijakan policy. Furthermore, compliance with the policy
tersebut perlu diungkapkan dalam laporan tahunan should be disclosed in the annual report through
melalui mekanisme “comply or explain.” the “comply or explain” mechanism.


E.2.J. EVALUASI KINERJA DEWAN E.2.J. PERFORMANCE EVALUATION OF THE
KOMISARIS DAN ANGGOTANYA BOARD OF COMMISSIONERS AND ITS
MEMBERS
Kinerja Dewan Komisaris dan anggotanya Performance of the Board of Commissioners and
perlu dievaluasi secara reguler sebagai bentuk its members needs to be evaluated on a regular
akuntabilitas pelaksanaan tugas dan acuan basis as a form of accountability and reference for
perbaikan ke depan. Di samping itu, evaluasi future improvements. In addition, performance
kinerja Dewan Komisaris dan anggotanya juga evaluation of the Board of Commissioners
memiliki peranan penting dalam perencanaan and its members has also an important role in
penominasian dan pemilihan kembali anggota planning the re-nomination and re-election of
Dewan Komisaris, dan evaluasi tersebut perlu members of the Board of Commissioners and
dikaitkan dengan remunerasi. Pedoman Umum which needs to be associated with remuneration.
GCG merekomendasikan agar Dewan Komisaris The Indonesia’s Code of GCG recommend for the
menyampaikan laporan pertanggungjawaban, Board of Commissioners to submit accountability
namun tidak spesifik menjelaskan mengenai evaluasi reports, but have not specifically explained
kinerja individual anggota Dewan Komisaris (antara regarding performance evaluation of individual
lain melalui self assessment). members of the Board (among others through
self-assessment).


Di Indonesia, peraturan yang berlaku telah mengatur In Indonesia, the obligations of the Issuer or Public
mengenai kewajiban Emiten atau Perusahaan Publik Company are based on prevailing regulations
30
untuk melakukan evaluasi kinerja Direksi . Grafik 10 to evaluate the performance of the Board of
30
memperlihatkan sekitar 75% (372 dari 494) Emiten Directors . Graph 10 shows approximately
dan Perusahaan Publik telah mengungkapkan 75% (372 of 494) Issuers and Public Companies
hubungan kinerja dan remunerasi Direksi tersebut disclosed the relationship of performance and
dalam laporan tahunan 2012. remuneration of the Board of Directors in the 2012
annual report.



30 Peraturan Nomor X.K.6 tentang Penyampaian Laporan Ta- 30 Regulation No.X.K.6 on Submission of Annual Report of Is-
hunan Emiten atau Perusahaan Publik (2012). suer or Public Company (2012)

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Grafik 10 Pengungkapan Hubungan Kinerja dengan Remunerasi Direksi
graphic Disclosure of Relationship between Performance and Remuneration of Directors








25%
75%


Tidak Mengungkapkan/Not Disclosed
Mengungkapkan/Disclosed

Sumber/Source: OJK, 2013




Namun demikian, ketentuan mengenai laporan Nevertheless, the provisions regarding annual
tahunan tersebut belum mengharuskan adanya report do not require regular performance
evaluasi kinerja secara reguler bagi Dewan Komisaris evaluation of Board of Commissioners and its
dan pengungkapannya dalam laporan tahunan. disclosure in the annual report.





Board Compensation Review

It is appropriate for the staff of the Company to report once a year to the Committee
on Director Affairs the status of GM Board compensation in relation to other large US
companies. As part of a Director’s total compensation and to create a direct linkage with
corporate performance, the Board believes that a meaningful portion of a Director’s
compensation should be provided in common stock units. Change in Board compensation,
if any, should come at the suggestion of the Committee on Director Affairs, but with full
discussion and concurrence by the Board
Boards’ Guidelines of General Motors, Toolkit 2 - Developing Corporate Governance
Codes of Best Practice, Global Corporate Governance Forum.






Performance-based remuneration
While the ICGN is a strong advocate of performance-based concepts in executive
remuneration, ICGN does not support performance measures in non-executive
director remuneration, including cash bonus schemes and equity vesting requirements.
Performance-based remuneration for non-executive directors has significant potential to

conflict with their primary role as an independent representative of shareowners.
ICGN Non-executive Director Remuneration Guidelines and Policies

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REKOMENDASI RECOMMENDATION

Praktik keteladanan internasional di bidang tata International exemplary practices in the field
kelola mewajibkan adanya evaluasi kinerja Dewan of governance require performance evaluation
Komisaris, baik sebagai dewan maupun sebagai of Board of Commissioners, both as a board
individu (anggota dewan). Namun demikian, and as individuals (board member). However,
dalam penentuan remunerasi Dewan Komisaris in terms of determining remuneration of Board
patut diperhatikan praktik yang berlaku. Untuk itu, of Commissioners, the prevailing practices are
regulator pasar modal perlu mewajibkan Emiten noteworthy. For that, the capital market regulator
atau Perusahaan Publik untuk melakukan evaluasi, should require the Issuer or Public Company to
dan menghubungkan hasil evaluasi dengan conduct evaluation and link evaluation results
remunerasi dari masing-masing anggota Dewan with remuneration of each member of the Board
Komisaris, serta mengungkapkannya dalam laporan of Commissioners and disclose them in the annual
tahunan. report.


E.2.K. KETERLIBATAN DALAM KEJAHATAN E.2.K. INVOLVEMENT IN FINANCIAL CRIME
KEUANGAN


Untuk membangun etika perusahaan, anggota To establish corporate ethics, members of Board
Dewan Komisaris dan Direksi yang terlibat dalam of Commissioners and Board of Directors who are
kejahatan keuangan harus didorong untuk involved in financial crimes should be encouraged
mengundurkan diri. UUPT mengatur anggota Direksi to resign. The Limited Liability Company Law
tidak berwenang mewakili perusahaan apabila stipulates that any member of the Board of
terjadi perkara di pengadilan antara anggota Direksi Directors is not permitted to represent the
yang bersangkutan dengan perusahaan . Hingga company in the event of litigation between the
31
31
saat ini belum ada ketentuan khusus di pasar modal member concerned and the company . Until now
yang mengatur hal ini. there is no specific provision in the capital market
that governed this issue.

REKOMENDASI RECOMMENDATION

Praktik keteladanan internasional di bidang tata International exemplary practices in the field
kelola mendorong anggota Dewan Komisaris dan of governance encourage members of Board of
Direksi perusahaan untuk mengundurkan diri dari Commissioners and Board of Directors of the
posisinya apabila terlibat dalam kejahatan keuangan. company to resign from their position if involved in
Hal ini diperlukan untuk menghindari terjadinya financial crimes. This is necessary in order to avoid
benturan kepentingan dan membangun budaya conflicts of interest and build an ethical culture.
beretika. Untuk itu, regulator pasar modal perlu For that, the capital market regulator should
mendorong kepatuhan Emiten dan Perusahaan encourage Issuers and Public Companies to comply
Publik untuk memenuhi ketentuan ini dan with this provision and explain if they could not
menjelaskannya apabila tidak dapat mematuhinya. comply.


E.2.L. SUKSESI ANGGOTA DIREKSI E.2.L. SUCCESSION OF MEMBERS OF THE BOARD
OF DIRECTORS

Kebijakan mengenai suksesi bertujuan untuk Succession policy aims to keep the continuity
menjaga kesinambungan proses regenerasi of leadership regeneration process in the
(kaderisasi) kepemimpinan di perusahaan dalam company in order to maintain company business
rangka mempertahankan keberlanjutan bisnis sustainability. Until now, the succession issue of

31 UUPT pasal 99. 31 Article 99 of Limited Liability Company Law

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perusahaan. Hingga saat ini, isu suksesi anggota members of the Board of Directors has not been a
Direksi belum menjadi prioritas di kerangka priority in the Indonesian regulatory framework.
peraturan Indonesia.

REKOMENDASI RECOMMENDATION

Kebijakan suksesi Direksi menurut praktik The succession policy for Board of Directors
keteladanan internasional di bidang tata kelola according to international exemplary practices
menjadi suatu hal yang wajib dimiliki perusahaan, in the field of governance is mandatory for
untuk menjaga agar strategi perusahaan dalam the company to keep the company’s strategy
jangka panjang (long term strategy) tetap berlanjut. sustainable in the long term (long term strategy).
Kebijakan suksesi ini perlu dikaitkan dengan kinerja This succession policy needs to be linked to
anggota Direksi. Oleh karena itu, Emiten dan performance of the members of the Board of
Perusahaan Publik perlu didorong oleh regulator Directors. Therefore, Issuers and Public Companies
untuk membuat kebijakan mengenai rencana should be encouraged by the regulator to develop a
suksesi anggota Direksi yang dikaitkan dengan policy regarding succession plan for the board that
kinerjanya, dan diungkapkan melalui mekanisme is linked to performance and expressed it through
“comply or explain.” the “comply or explain” mechanism.


E.2.M. KOMITE NOMINASI DAN REMUNERASI E.2.M. NOMINATION AND REMUNERATION
COMMITTEE
Komite Nominasi dan Remunerasi berperan The Nomination and Remuneration committee
penting dalam memproses pencalonan kandidat plays an important role in the nomination process
anggota Dewan Komisaris dan Direksi, mulai member of Board of Commissioners and Board
dari menetapkan kriteria, melaksanakan uji of Directors candidates, ranging from criteria
kepatutan dan kelayakan (fit and proper test), development, conducting due diligence and
serta menyampaikan hasilnya kepada Dewan feasibility (fit and proper test), and submitting
Komisaris. Komite ini harus diketuai oleh Komisaris results to the Board of Commissioners. This
Independen. Di samping itu, komite ini bertugas committee should be chaired by an independent
untuk melakukan evaluasi terhadap kinerja Dewan commissioner. In addition, this committee is
Komisaris dan Direksi dan mengaitkannya dengan responsible for evaluating performance of the
remunerasi, serta mengusulkan hasil evaluasi kepada Board of Commissioners and Board of Directors
Dewan Komisaris. Hasil kedua evaluasi tersebut and relate it with remuneration and propose
kemudian diajukan kepada RUPS untuk memperoleh evaluation results to the Board of Commissioners.
persetujuan. The results of both evaluations are then presented
at the GMS for approval.

Di Indonesia, pembentukan Komite Nominasi In Indonesia, the establishment of the
dan Remunerasi sudah dianjurkan dalam Nomination and Remuneration Committee has
Pedoman Umum GCG. Komite nominasi dan been recommended in the Code of GCG. The
remunerasi tersebut bertugas membantu Dewan nomination and remuneration committee assists
Komisaris mempersiapkan calon anggota Dewan Board of Commissioners to prepare candidate
Komisaris dan Direksi, serta mengusulkan besaran members of Board of Commissioners and Board
remunerasinya. Sedangkan, UUPT tidak mengatur of Directors, as well as the proposed amount of
secara spesifik mengenai kewajiban perusahaan remuneration. Meanwhile, the Limited Liability
untuk memiliki Komite Nominasi dan Remunerasi. Company Law does not specifically regulate
Ketentuan pasar modal yang berlaku mendorong company obligation to have a Nomination and
Emiten atau Perusahaan Publik untuk memiliki Remuneration Committee. Prevailing capital
Komite Nominasi dan Remunerasi dengan

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Grafik 11 Pengungkapan Komite Nominasi dan Remunerasi
graphic Disclosure of Nomination and Remuneration Committee








25%
75%


Tidak Mengungkapkan/Not Disclosed
Mengungkapkan/Disclosed

Sumber/Source: OJK, 2013



32
mewajibkan pengungkapannya, jika memiliki . market regulations encourage the Issuer or Public
Adapun hal-hal terkait Komite Nominasi dan Company to have a Nomination and Remuneration
Remunerasi yang perlu diungkapkan antara Committee by requiring its disclosure . Matters
32
lain meliputi riwayat jabatan, dasar hukum relating to the Nomination and Remuneration
penunjukkan; periode jabatan anggota komite; Committee which need disclosure are among
pengungkapan kebijakan perusahaan mengenai others, the history of office, the legal basis of
independensi komite; uraian tugas dan tanggung appointment; period of office of committee
jawab; pengungkapan kebijakan perusahaan dan members; disclosure of company policies regarding
pelaksanaannya, tentang frekuensi rapat komite committee independence; description of duties
dan tingkat kehadiran anggota komite dalam rapat and responsibilities; disclosure of company
tersebut; dan uraian singkat pelaksanaan kegiatan policies and practices, frequency of committee
komite pada tahun buku. meetings and attendance of committee members
at the meetings, and brief description of the
implementation of committee activities during the
fiscal year.


Dalam praktiknya, terdapat 122 dari 494 (25%) In practice, 122 of 494 (25%) Issuers and Public
Emiten dan Perusahaan Publik yang memiliki Companies have a Nomination and Remuneration
Komite Nominasi dan Remunerasi, serta Committee and disclosed it in the 2012 annual
mengungkapkannya dalam laporan tahunan 2012. report.


REKOMENDASI RECOMMENDATION
Pembentukan Komite Nominasi dan Remunerasi The establishment of Nomination and
direkomendasikan menurut praktik keteladanan Remuneration Committee is recommended by
internasional di bidang tata kelola. Meskipun international exemplary practices in the field of
demikian, dalam praktik di berbagai negara, sudah governance. Nevertheless, in practice in various
banyak perusahaan yang memilikinya (OECD, countries, there are many companies that have
2013). Komite ini berfungsi untuk meningkatkan a Nomination and Remuneration Committee
implementasi praktik dan prinsip tata kelola (OECD, 2013). This committee serves to improve
perusahaan yang baik. Untuk itu, di pasar modal the implementation of practices and principles of
Indonesia, perlu ada ketentuan yang mengharuskan good corporate governance. To that end, in the

32 Peraturan Nomor X.K.6 tentang Penyampaian Laporan 32 Regulation No.X.K.6 on Submission of Annual Report of
Tahunan Emiten atau Perusahaan Publik (2012). Issuer or Public Company (2012)

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Emiten atau Perusahaan Publik untuk membentuk Indonesian capital market, there needs to be a
Komite Nominasi dan Remunerasi. Kepatuhan provision requiring any Issuer or Public Company to
terhadap ketentuan ini harus diungkapkan di form a Nomination and Remuneration Committee.
laporan tahunan melalui mekanisme “comply or Compliance with this provision must be disclosed
explain.” in the annual report through the “comply or
explain” mechanism.



E.2.N. EVALUASI KINERJA KOMITE E.2.N. PERFORMANCE EVALUATION OF
DEWAN KOMISARIS COMMITTEES OF THE BOARD OF
COMMISSIONERS
Komite-komite yang berada di bawah The committees under the Board of
Dewan Komisaris sebenarnya merupakan Commissioners are actually an extension of
perpanjangan tangan dari Dewan Komisaris untuk the Board to empower its duties. The Limited
memberdayakan tugas-tugas dari Dewan Komisaris. Liability Company Law provides that committees
UUPT mengatur bahwa komite yang dibentuk established by the Board of Commissioners are
oleh Dewan Komisaris bertanggungjawab kepada responsible to the Board of Commissioners.
Dewan Komisaris. Ketentuan yang berlaku di Capital market provisions in force require any
pasar modal mewajibkan Emiten atau Perusahaan Issuer or Public Company to form an Audit
Publik untuk membentuk Komite Audit . Jika Committee . If the Issuer or Public Company
33
33
Emiten atau Perusahaan Publik memiliki komite has other committees established by the Board
lainnya yang dibentuk Dewan Komisaris, mereka of Commissioners, it shall disclose them in the
wajib mengungkapkannya pada laporan tahunan, annual report, including a description of the legal
diantaranya uraian mengenai dasar hukum basis of appointment, frequency of committee
penunjukkan, frekuensi rapat komite dan tingkat meetings and attendance of committee members
kehadiran anggota komite dalam rapat tersebut; at the meetings, as well as implementation of
serta pelaksanaan kegiatan komite pada tahun committee activities during the fiscal year .
34
34
buku .
Berdasarkan data 494 laporan tahunan Emiten dan Based on data from 494 annual reports of Issuers
Perusahaan Publik tahun 2012 yang disampaikan ke and Public Companies for 2012 submitted to
regulator, 158 diantaranya (32%) mengungkapkan the regulator, 158 (32%) of which revealed that
bahwa mereka memiliki komite lainnya, diluar they have other committees, outside the Audit
Komite Audit yang telah diwajibkan. Sedangkan Committee that is required. Meanwhile, the
jenis-jenis komite tersebut beserta jumlah Emiten types of committees along with the number of
dan Perusahaan Publik yang memiliki komite Issuers and Public Companies which have these
tersebut dapat dilihat pada tabel 2. Dari jumlah committees can be seen in table 2. Of these, quite
tersebut, cukup banyak Emiten dan Perusahaan a lot of Issuers and Public Companies have several
Publik yang memiliki beberapa komite sekaligus. committees at once.














33 Peraturan Nomor IX.I.5 tentang Pembentukan dan Pedo- 33 Regulation No.IX.I.5 on Formation and Implementation
man Pelaksanaan Kerja Komite Audit (2012). Guidelines for Audit Committee (2012)
34 Peraturan Nomor X.K.6 tentang Penyampaian Laporan 34 Regulation No.X.K.6 on Submission of Annual Report of
Tahunan Emiten atau Perusahaan Publik (2012). Issuer or Public Company (2012)

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Tabel 2 Komite-komite yang Dimiliki Emiten dan Perusahaan Publik
table Committees Owned by Issuers and Public Companies

Nama Komite | Name of Committee Jumlah Emiten | Number of Issuers
Komite Nominasi dan/atau Remunerasi | Nomination and / or Remuneration Committee 122
Komite Manajemen Risiko | Risk Management Committee 78
Komite Pemantau Risiko | Risk Monitoring Committee 45
Komite Pengarah Teknologi Informasi (TI) | Information Technology (IT) Steering Committee 31
Komite Sumber Daya Manusia | HR Committee 25
Komite Good Corporate Governance (GCG) | Good Corporate Governance (GCG) Committee 22
Komite Lainnya | Other Committees 110
Sumber/Source: OJK, 2013






“The remuneration committee is responsible for all aspects of the remuneration
arramgements. The committee should take ownership of devising, drafting and
implementing these remuneration arrangements.”

ICGN Executive Remunerations, Principles and Policy Disclosure Guidance






REKOMENDASI RECOMMENDATION

Dalam rangka meningkatkan kinerja komite In order to improve the performance of
Dewan Komisaris, praktik keteladanan committees of the Board of Commissioners,
internasional di bidang tata kelola mensyaratkan international exemplary practices in the field of
perlunya dilakukan evaluasi terhadap kinerja governance require performance evaluation of the
komite, dan mengungkapkan hasil evaluasinya. committees, and disclose the evaluation results.
Mempertimbangkan praktik dan ketentuan Considering practices and prevailing regulations,
yang berlaku, regulator pasar modal perlu the capital market regulator should require the
mewajibkan Emiten atau Perusahaan Publik untuk Issuer or Public Company to disclose performance
mengungkapkan hasil penilaian kinerja komite- evaluation results of committees of the Board of
komite Dewan Komisaris pada laporan tahunan. Commissioners in the annual report.

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RENCANA IMPLEMENTASI


Implementation Plan





















A. TINJAUAN SINGKAT A. BRIEF OVERVIEW


Peningkatan implementasi tata kelola perusahaan Improved corporate governance implementation
di Indonesia, khususnya Emiten dan Perusahaan in Indonesia, specifically for Issuers and Public
Publik, tidak hanya menuntut komitmen regulator Companies, requires a commitment not only of the
tetapi juga komitmen Emiten dan Perusahaan regulators but also the commitment of Issuers and
Publik. Selaku koordinator dan inisiator penyusunan Public Companies. As the coordinator and initiator
Roadmap ini, OJK memiliki komitmen penuh dalam of this Roadmap, the OJK is fully committed to
penyusunan matriks rekomendasi maupun dalam preparing the recommendation matrix along with
implementasinya. Terkait hal-hal yang memerlukan its implementation. In connection with matters
perbaikan maupun peningkatan kualitas jasa that need improvement as well as to improve
yang diberikan oleh regulator, hal tersebut telah the quality of services provided by the regulators,
dijabarkan secara rinci dalam Master Plan Pasar these have been described in detail in the Master
Modal dan Industri Keuangan Non Bank 2010 – 2014 Plan of Capital Market and Non-Bank Financial
yang disusun oleh Bapepam-LK, dan dilanjutkan Industry for 2010 - 2014 compiled by Bapepam- LK
implementasinya oleh OJK. and its implementation continued by the OJK.

Rekomendasi dalam Roadmap ini umumnya The recommendations in this Roadmap generally
berfokus pada perubahan peraturan yang penting focus on regulatory changes that are important in
dalam meningkatkan praktik tata kelola di tingkat improving governance practices at the corporate
korporasi, khususnya Emiten dan Perusahaan level, specifically Issuers and Public Companies.
Publik. Diharapkan bahwa perbaikan tata kelola It is expected that the improved governance
Emiten dan Perusahaan Publik dapat menjadi of Issuers and Public Companies can be a role
panutan dan teladan bagi perbaikan praktik tata model and example for the improvement of other
kelola perusahaan yang memiliki akuntabilitas corporate governance practices which have public
publik lainnya di Indonesia. Langkah ini diharapkan accountability in Indonesia. This is expected to
menjadi suatu langkah nyata dan praktis menuju be a concrete and practical step towards change

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perubahan dan peningkatan praktik tata kelola and improvement of good corporate governance
perusahaan Indonesia yang lebih baik. Sejalan practices. In line with the ASEAN regional economic
dengan rencana integrasi ekonomi regional ASEAN integration plan for 2015, this Roadmap is an
dalam tahun 2015, Roadmap ini menjadi langkah important step for Indonesia to encourage and
penting bagi Indonesia untuk mendorong dan condition Indonesian companies to be better
mengkondisikan perusahaan-perusahaan Indonesia prepared and able to compete with other regional
agar lebih siap dan mampu berkompetisi dengan and global corporations.
perusahaan regional dan global lainnya.

Terdapat 33 (tiga puluh tiga) rekomendasi yang There are 33 (thirty three) recommendations
diajukan dalam Roadmap ini yang mencakup proposed in this Roadmap that cover all aspects
semua aspek dari prinsip-prinsip tata kelola of good corporate governance principles. These
perusahaan yang baik. Rekomendasi ini sebagian recommendations are largely implemented
besar diimplementasikan melalui penyusunan through the development of new regulations and
regulasi baru maupun perbaikan regulasi yang ada. improvement of existing regulations. Specifically,
Secara spesifik, keseluruhan rekomendasi dapat the overall recommendations can be grouped into:
dikelompokkan menjadi: Peraturan OJK, Pedoman OJK Regulations, GCG Code for Issuers and Public
GCG Emiten dan Perusahaan Publik, serta Program Companies, Socialization and Education Programs.
Sosialisasi dan Edukasi. Implementasi rekomendasi Planned implementation of the recommendations
direncanakan akan dilakukan dalam periode tahun will be carried out in the period 2014-2015.
2014-2015.


B. BAGAN REKOMENDASI DAN B. RECOMMENDATION AND
IMPLEMENTASI IMPLEMENTATION CHART


Keseluruhan rekomendasi dan rencana implemen- All recommendation items and the implementa-
tasi Roadmap terdapat dalam Bagan Rekomendasi tion plan of Roadmap are presented in the
dan Implementasi di bawah ini. following Recommendation and Implementation
Chart.
BAGAN REKOMENDASI DAN IMPLEMENTASI
recommendation and implementation chart
Lingkup Perbaikan Rekomendasi Implementasi Waktu
Scope of Improvement Recomendation Implementation Time
A. KERANGKA TATA KELOLA PERUSAHAAN/CORPORATE GOVERNANCE FRAMEWORK
1. Penerapan “Comply a. Perlu disusun Pedoman GCG a. Pedoman GCG Emiten Juni 2015
or Explain” khusus untuk Emiten dan dan Perusahaan Publik June 2015
Perusahaan Publik GCG Code for Issuers and
Application of GCG Code need to be drawn up Public Companies
“Comply or Explain” specifically for Issuers and Public
Companies
b. Perlu disusun ketentuan yang b. Peraturan OJK Juni 2015
mengatur pengungkapan OJK Regulation June 2015
kesesuaian terhadap Pedoman
GCG khusus Emiten dan
Perusahaan Publik dengan
pendekatan “comply or explain”.
A regulation needs to be drawn up
governing the application of the
“comply or explain” approach to
GCG Code specifically for Issuers and
Public Companies.

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Lingkup Perbaikan Rekomendasi Implementasi Waktu
Scope of Improvement Recomendation Implementation Time
2. Kode Etik Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
Code of Conduct mengatur kewajiban perusahaan Perusahaan Publik June 2015
untuk memiliki kode etik yang GCG Code for Issuers and Public
lengkap, termasuk fiduciary duties Companies
dari Dewan Komisaris dan Direksi.
There needs to be a provision governing
company obligation to have a complete
code of conduct including fiduciary
duties of the Board of Commissioners
and Board of Directors.
3. Penegakan Hukum Diperlukan peningkatan Sosialisasi dan edukasi Berkelanjutan
di Pasar Modal kompetensi penegak hukum di Socialization and education Continuous
Law Enforcement in bidang tata kelola perusahaan
the Capital Market dan kerjasama dengan institusi
penegak hukum untuk mengatasi
pelanggaran dan kejahatan di
bidang keuangan
There is a need for capacity building of
and cooperation with law enforcement
officers in the civil and/or commercial
justice system.
4. Peranan Profesi Diperlukan peningkatan kapasitas, Sosialisasi dan edukasi Berkelanjutan
Penunjang Pasar pengaturan dan pengawasan Socialization and education Continuous
Modal terhadap profesi penunjang pasar
Role of Capital modal.
Market Supporting The need for capacity building,
Professionals regulation and supervision of capital
market supporting professions
5. Pengetahuan Diperlukan peningkatan Sosialisasi dan edukasi Berkelanjutan
& Pemahaman pengetahuan dan pemahaman Socialization and education Continuous
Jurnalis tentang jurnalis media massa untuk
Good Corporate mempromosikan tata kelola
Governance perusahaan yang baik.
Knowledge & There is a need to increase knowledge
Understanding of and understanding of mass media
Journalists about Good journalists to promote good corporate
Corporate Governance governance.
B. PERLINDUNGAN PEMEGANG SAHAM/PROTECTION OF SHAREHOLDERS
1. Agenda RUPS Diperlukan ketentuan tentang Peraturan OJK Desember
GMS Agenda penyampaian agenda RUPS OJK Regulation 2014
Tahunan dalam waktu yang December 2014
memadai, dengan rinci, lengkap,
informatif, serta tersedia di situs
web emiten.
There needs to be a regulation
concerning the submission of the AGM
agenda in sufficient time, detailed,
complete, informative, and available on
the issuer’s website.
2. Mekanisme Diperlukan ketentuan teknis Pedoman GCG Emiten dan Juni 2015
Pemberian Hak tentang tatacara pemberian suara Perusahaan Publik. June 2015
Suara (Voting) (voting) dalam RUPS yang tetap GCG Code for for Issuers and
dalam RUPS mengakomodasi prinsip one share- Public
Provision of Voting one vote. Companies
Rights Mechanism at The need for technical provisions on
the GMS voting procedure at the GMS that still
accommodate the one share-one vote
principle.

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Lingkup Perbaikan Rekomendasi Implementasi Waktu
Scope of Improvement Recomendation Implementation Time
3. Informasi Hasil RUPS Diperlukan ketentuan tentang Peraturan OJK Desember
Information of GMS publikasi hasil RUPS di situs web OJK Regulation 2014
Results Emiten dan Perusahaan Publik December 2014
secara rinci dan lengkap dalam
waktu yang memadai.
There needs to be a regulation on the
publication of GMS results on the website
of Issuers and Public Companies in detail
and complete within a reasonable time.
4. Pemegang Saham Diperlukan program peningkatan Sosialisasi dan edukasi Berkelanjutan
Non-Pengendali pengetahuan dan pemahaman bagi Socialization and education Continuous
Non-Controlling pemegang saham non-pengendali
Shareholders tentang hak dan kewajibannya.
There needs to be a program to improve
the knowledge and understanding for
non-controlling shareholders of their
rights and obligations.
5. Pembayaran Diperlukan ketentuan yang Peraturan OJK Desember
Dividen mengatur jangka waktu OJK Regulation 2014
Payment of Dividends pembayaran dividen tunai yang December 2014
tidak melebihi 30 hari kalender
sejak diumumkannya dividen.
There needs to be a regulation
governing dividend payment period not
exceeding 30 calendar days since the
announcement of the dividend.
C. PERANAN PEMANGKU KEPENTINGAN/ ROLE OF STAKEHOLDERS
1. Kebijakan Anti- Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
Korupsi mendorong Emiten dan Perusahaan Perusahaan Publik. June 2015
Anti-Corruption Policy Publik untuk memiliki kebijakan GCG Code for Issuers and Public
anti-korupsi dan pengungkapannya Companies
There needs to be a provision that
encourages Issuers and Public
Companies to have an anti-corruption
policy and disclosure
2. Kebijakan terkait Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
Seleksi Pemasok mendorong Emiten dan Perusahaan Perusahaan Publik. June 2015
dan Hak-hak Publik untuk mengimplementasikan GCG Code for Issuers and Public
Kreditur dan mengungkapkan kebijakan Companies
Policy related to tentang proses seleksi pemasok/
Supplier Selection and kontraktor, dan hak-hak kreditur.
Creditor Rights There needs to be a provision that
encourages Issuers and Public
Companies to implement and disclose
the policy on selection process of
suppliers/contractors and the rights of
creditors.

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Lingkup Perbaikan Rekomendasi Implementasi Waktu
Scope of Improvement Recomendation Implementation Time
3. Insentif Jangka Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
Panjang bagi mendorong Emiten dan Perusahaan Perusahaan Publik. June 2015
Karyawan Publik untuk memiliki kebijakan GCG Code for Issuers and Public
Long-Term Incentives pemberian insentif jangka panjang Companies
for Employees bagi karyawan secara adil dan
transparan dan pengungkapannya.
There needs to be a provision that
encourages Issuers and Public
Companies to have a policy that
encourages providing long-term
incentives to employees in a fair and
transparent manner.
4. Penerapan Sistem Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
whistleblowing mendorong Emiten dan Perusahaan Perusahaan Publik. June 2015
Implementation of Publik untuk memiliki sistem GCG Code for Issuers and Public
Whistleblowing System whistleblowing. Companies
There needs to be a provision that
encourages Issuers and Public
Companies to have a whistleblowing
system.
5. Kebijakan Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
Peningkatan mendorong Emiten dan Perusahaan Perusahaan Publik. June 2015
Kemampuan Vendor Publik untuk meningkatkan GCG Code for Issuers and Public
Vendor Capacity kemampuan vendor dan Companies
Improvement Policy pengungkapannya.
There needs to be a provision that
encourages Issuers and Public
Companies to enhance the ability of
vendors and disclosure.
6. Peran dan Diperlukan ketentuan yang Peraturan OJK Desember
Kualifikasi Sekretaris mewajibkan Emiten dan OJK Regulation 2014
Perusahaan Perusahaan Publik untuk December 2014
Role and Qualifications meningkatkan peran dan
of Corporate Secretary kemampuan Sekretaris Perusahaan,
khususnya yang berkaitan dengan
regulasi di pasar modal.
There needs to be a regulation that
requires Issuers and Public Companies
to enhance the role and ability of the
Corporate Secretary, in particular with
regard to regulations in the capital
market.
D. TRANSPARANSI INFORMASI/ TRANSPARENCY OF INFORMATION
1. Kepemilikan Saham Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
dalam Jumlah mendorong Emiten dan Perusahaan Perusahaan Publik. June 2015
Tertentu Publik untuk mengungkapkan GCG Code for Issuers and Public
Shareholding in Certain kepemilikan saham dalam jumlah Companies
Amount tertentu, baik langsung maupun
tidak langsung, sampai ke
pemegang saham individu.
There needs to be a provision that
encourages issuers and public
companies to disclose the ownership
of shares in a certain amount, either
directly or indirectly, up to individual
shareholders.

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Lingkup Perbaikan Rekomendasi Implementasi Waktu
Scope of Improvement Recomendation Implementation Time
2. Pengungkapan Diperlukan ketentuan yang Peraturan OJK Juni 2015
Kriteria Komisaris mengatur Emiten dan Perusahaan OJK Regulation June 2015
Independen Publik untuk mengungkapkan
Independent bahwa kriteria Komisaris
Commissioner Independen telah sesuai dengan
Disclosure Criteria ketentuan yang berlaku.
There needs to be a regulation governing
issuers and public companies to disclose
that the criteria for Independent
Commissioners are in accordance with
applicable regulations.
3. Informasi pada Situs Diperlukan ketentuan tentang Peraturan OJK Juni 2015
Web Emiten informasi yang harus tersedia di OJK Regulations June 2015
Information on situs web Emiten dan Perusahaan
Company Website Publik yang disajikan dalam dua
bahasa (bahasa Indonesia dan
Inggris).
There needs to be a regulation on
information that should be available
on the website of issuers and public
companies presented in two languages
(Indonesian and English).
E. PERAN & TANGGUNG JAWAB DEWAN KOMISARIS DAN DIREKSI/ ROLES AND RESPONSIBILITIES OF THE
BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS
1. Prosedur nominasi Diperlukan ketentuan yang Peraturan OJK Desember
dan remunerasi mewajibkan Emiten dan OJK Regulations 2014
anggota Dewan Perusahaan Publik memiliki December 2014
Komisaris dan prosedur nominasi dan remunerasi
Direksi yang formal dan transparan, serta
Procedures for the pengungkapannya.
nomination and There needs to be a regulation that
remuneration of the requires issuers and public companies
members of the Board to have procedures for nomination and
of Commissioners and remuneration of members of the Board
Board of Directors of Commissioners and Board of Directors
and disclosure.
2. Kualifikasi kandidat Diperlukan ketentuan tentang Peraturan OJK Desember
anggota Dewan tambahan persyaratan kandidat OJK Regulations 2014
Komisaris dan anggota Dewan Komisaris dan December 2014
Direksi Direksi.
Qualifications The need for a regulation on additional
of candidates requirements for candidate members of
for the Board of the Board of Commissioners and Board
Commissioners and of Directors.
Board of Directors
3. Program orientasi Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
bagi anggota mendorong Emiten dan Perusahaan Perusahaan Publik. June 2015
Dewan Komisaris Publik untuk memiliki program GCG Code for Issuers and Public
dan Direksi baru orientasi bagi anggota Dewan Companies
Orientation program Komisaris dan Direksi yang baru
for new members menjabat, dan pengungkapannya.
of the Board of There needs to be a provision that
Commissioners and encourages issuers to have an orientation
Board of Directors program for new members of the Board
of Commissioners and Board of Directors
and its disclosure.

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Lingkup Perbaikan Rekomendasi Implementasi Waktu
Scope of Improvement Recomendation Implementation Time
4. Pengetahuan Diperlukan ketentuan yang a. Pedoman GCG Emiten Juni 2015
dan pemahaman mendorong anggota Dewan dan Perusahaan Publik. June 2015
tentang fiduciary Komisaris dan Direksi Emiten GCG Code for Issuers and
duties dan Perusahaan Publik untuk Public Companies
Knowledge and memperoleh pengetahuan dan b. Sosialisasi dan Edukasi Berkelanjutan
understanding of pemahaman tentang fiduciary
fiduciary duties duties, dan memperbaharui Socialization and Education Continuous
pengetahuan dan pemahamannya
secara terus menerus.
There needs to be a provision that
encourages member of Board of
Commissioners and Board of Directors
of Issuers and Public Companies to
gain knowledge and understanding of
fiduciary duties and constantly update
their knowledge and understanding.
5. Rapat Dewan Diperlukan ketentuan yang Peraturan OJK Desember
Komisaris dan mengatur rapat Dewan Komisaris OJK Regulations 2014
Direksi dan Dewan Direksi terkait batas December 2014
Meetings of Board of minimal jumlah rapat, jadwal dan
Commissioners and materi rapat.
Board of Directors There needs to be a regulation governing
meetings of Board of Commissioners
and Board of Directors in relation to the
minimum number of meetings, schedule
and meeting materials.
6. Rangkap Jabatan Diperlukan ketentuan yang Peraturan OJK Desember
Anggota Dewan mengatur tentang pembatasan OJK Regulation 2014
Komisaris dan rangkap jabatan bagi anggota December 2014
Direksi Dewan Komisaris dan Direksi, dan
Concurrent positions pengungkapannya.
by members of Board There needs to be a regulation governing
of Commissioners and limitation on concurrent positions of
Board of Directors members of Board of Commissioners and
Board of Directors and disclosure.
7. Batasan Periode Diperlukan ketentuan tentang Peraturan OJK Desember
Menjabat Komisaris batasan periode menjabat bagi OJK Regulation 2014
Independen Komisaris Independen. December 2014
Limitation to theTenure There needs to be a regulation on
of Independent limitation of tenure as Independent
Commissioner Commissioner.
8. Pedoman Kerja Diperlukan ketentuan yang Peraturan OJK Desember
Dewan Komisaris mewajibkan Emiten dan OJK Regulation 2014
dan Direksi Perusahaan Publik untuk memiliki December 2014
Employment pedoman kerja (board charter), dan
Guidelines for Board pengungkapannya.
of Commissioners and There needs to be a regulation requiring
Board of Directors Issuers and Public Companies to have
employment guidelines (board charter)
and disclosure.
9. Keberagaman Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
Komposisi Dewan mendorong Emiten dan Perusahaan Perusahaan Publik. June 2015
Komisaris dan Publik untuk memiliki kebijakan GCG Code for Issuers and Public
Direksi tentang keberagaman komposisi Companies
Diversity for the anggota Dewan Komisaris dan
Composition Direksi, dan pengungkapannya.
of the Board of There needs to be a provision that
Commissioners and encourages Issuers and Public
Board of Directors Companies to have a policy on diversity
of composition member of the Board of
Commissioners and Board of Directors
and disclosure.

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Lingkup Perbaikan Rekomendasi Implementasi Waktu
Scope of Improvement Recomendation Implementation Time
10 Evaluasi Kinerja Diperlukan ketentuan yang Peraturan OJK Desember
Dewan Komisaris mewajibkan Emiten dan OJK Regulations 2014
dan anggotanya Perusahaan Publik untuk December 2014
Performance melakukan penilaian kinerja Dewan
Evaluation of the Board Komisaris dan anggotanya yang
of Commissioners and dikaitkan dengan remunerasi, dan
its members pengungkapannya.
There needs to be a regulation requiring
Issuers and Public Companies to
assess the performance of the Board
of Commissioners and its members
associated with remuneration, and
disclosure.
11 Keterlibatan Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
dalam Kejahatan mendorong anggota Dewan Perusahaan Publik June 2015
Keuangan Komisaris dan Direksi Emiten dan GCG Code for Issuers and Public
Involvement in Perusahaan Publik yang terlibat Companies
Financial Crime kejahatan keuangan, untuk mundur
dari jabatannya.
There needs to be a provision that
encourages member of Board of
Commissioners and Board of Directors
of Issuers and Public Companies who
are involved in financial crimes to resign
from their positions.
12 Suksesi Anggota Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
Direksi mendorong perusahaan untuk Perusahaan Publik June 2015
Succession of memiliki kebijakan tentang GCG Code for Issuers and Public
Members of the Board suksesi anggota Direksi, yang Companies
of Directors dikaitkan dengan kinerjanya dan
pengungkapannya.
There needs to be a provision that
encourages companies to have a policy
on succession of members of Board
Directors which is linked to performance
and its disclosure.
13 Komite Nominasi Diperlukan ketentuan yang Pedoman GCG Emiten dan Juni 2015
dan Remunerasi mendorong Emiten dan Perusahaan Perusahaan Publik June 2015
Nomination and Publik untuk memiliki Komite GCG Code for Issuers and Public
Remuneration Nominasi dan Remunerasi, dan Companies
Committee pengungkapannya.
There needs to be a provision that
encourages Issuers and Public
Companies to have a Nomination
and Remuneration Committee and its
disclosure.
14 Evaluasi Kinerja Diperlukan ketentuan yang Peraturan OJK Juni 2015
Komite Dewan mewajibkan Emiten dan OJK Regulations June 2015
Komisaris Perusahaan Publik untuk
Performance mengungkapkan penilaian tentang
Evaluation of kinerja Komite yang membantu
Committees of Dewan Komisaris.
the Board of There needs to be a regulation requiring
Commissioners Issuers and Public Companies to disclose
performance assessment of Committees
support of the Board of Commissioners.

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ucapan terima kasih


Acknowledgments




















oadmap Tata Kelola Perusahaan Indonesia his Indonesia Corporate Governance
ini disusun oleh Corporate Governance Task Roadmap has been prepared by the
Force (CGTF) yang ditetapkan berdasarkan Corporate Governance Task Force (CGTF)
RKeputusan Dewan Komisioner OJK T which was established by Decree of the
No.1/KDK.01/2013 tanggal 17 Juni 2013 tentang Board of Commissioners of OJK No.1/KDK.01/2013
Pembentukan Satuan Tugas Tata Kelola Perusahaan. dated June 17, 2013 on the Formation of Corporate
Berkaitan dengan hal tersebut, penghargaan yang Governance Task Force. In this regard, our highest
setinggi-tingginya dan ucapan terima kasih yang appreciation and sincere gratitude goes to CGTF
tulus kami ucapkan kepada institusi anggota CGTF member institutions as follows:
sebagai berikut:

1. Regulator, yang terdiri dari: 1. The Regulators which consist of:
a. Bank Indonesia (BI) a. Bank Indonesia (BI)
b. Direktorat Jenderal Pajak (DJP), b. Directorate General of Taxation (DJP),
Kementerian Keuangan Ministry of Finance
c. Kementerian Badan Usaha Milik Negara c. Ministry of State-Owned Enterprises
(BUMN) (BUMN)
d. Badan Pengawasan Keuangan dan d. Financial and Development Supervisory
Pembangunan (BPKP) Agency (BPKP)
e. Bursa Efek Indonesia (BEI) e. Indonesia Stock Exchange (BEI)
2. Governance Institutions which consist of:
2. Institusi Tata Kelola, yang terdiri dari: a. National Committee on Governance Policy
a. Komite Nasional Kebijakan Governance (KNKG)
(KNKG) b. Indonesian Institute for Corporate
b. Indonesian Institute for Corporate Directorship (IICD)
Directorship (IICD) c. Indonesian Institute for Corporate
c. Indonesian Institute for Corporate Governance (IICG)
Governance (IICG) d. Indonesian Institute of Commissioners
d. Lembaga Komisaris dan Direksi Indonesia and Directors (LKDI)
(LKDI) e. Indonesian Institute of Accountants (IAI)
e. Ikatan Akuntan Indonesia (IAI) 3. The International Finance Corporation (IFC),

3. The International Finance Corporation (IFC), as Consultant in the preparation of this
selaku Konsultan dalam penyusunan Roadmap Roadmap.
ini.

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Acknowledgments









Secara khusus, ucapan terima kasih kami sampaikan In particular, our gratitude goes to all the members
kepada segenap anggota CGTF yang telah of the CGTF who have devoted all capabilities and
mencurahkan seluruh kemampuan dan keahliannya expertise in the preparation of this Roadmap,
dalam penyusunan Roadmap ini, bekerja bahu- working hand in hand in 6 (six) Working Groups
membahu dalam 6 (enam) Kelompok Kerja di bawah under the CGTF led by:
CGTF, yang dipimpin oleh:
1. Irwan Habsjah (LKDI)
1. Sdr. Irwan Habsjah (LKDI) 2. Lukas Y Setiaatmaja (IICD)
2. Sdr. Lukas Y Setiaatmaja (IICD) 3. G. Suprayitno (IICG)
3. Sdr. G. Suprayitno (IICG) 4. Tony Silitonga (IICD)
4. Sdr. Tony Silitonga (IICD) 5. Khomsiyah (IAI)
5. Sdr. Khomsiyah (IAI) 6. Binhadi (KNKG)
6. Sdr. Binhadi (KNKG)
Special thanks are also conveyed to Moez Miaoui,
Ucapan terima kasih secara khusus ini juga
disampaikan kepada Sdr. Moez Miaoui, Stefan S. Stefan S. Handoyo, and Ratna Januarita from the
Handoyo, dan Ratna Januarita dari IFC atas dedikasi IFC for their dedication and contribution in the
dan kontribusinya dalam penyusunan Roadmap ini. preparation of this Roadmap.

Kami juga mengucapkan terima kasih kepada para We also would like to thank the experts of
pakar tata kelola domestik dan internasional, serta domestic and international governance, and
para pelaku pasar, yang telah turut berpartisipasi market participants, who had participated in
dalam serangkaian tahapan proses penyusunan a series of stages of the preparation of this
Roadmap ini. Kami mendapatkan masukan yang Roadmap. We received very comprehensive and
sangat komprehensif dan ekstensif dari Sdr. David extensive feedback from David Robinett, World
Robinett, World Bank’s Private Sector Development Bank’s Private Sector Development Specialist
Specialist (Corporate Governance Group). Terima kasih (Corporate Governance Group). Thanks are also
ini juga ditujukan kepada para investor institusional, directed to institutional investors, issuers and
Emiten dan Perusahaan Publik, profesi penunjang, public company, supporting professions, and other
dan asosiasi lainnya di sektor pasar modal. associations in the capital market sector.

Ucapan terima kasih juga disampaikan kepada Additionally, we would like to thank Ms Nurhaida,
Sdr. Nurhaida, anggota Dewan Komisioner OJK, member of Board of Commissioner of OJK, Chief
Kepala Eksekutif Pengawas Pasar Modal, OJK dan Executive Supervisor of Capital Market and
Penanggungjawab CGTF, yang telah memberikan responsible for CGTF, who provide guidance in
arahan dalam penyusunan Roadmap ini. developing this Roadmap.

Kami selanjutnya mengucapkan terima kasih kepada We further thank the Chairman and Members of
Ketua dan Anggota dari Tim Pengarah CGTF sebagai the CGTF Steering Committee as follows:
berikut:

ROADMAP TATA KELOLA PERUSAHAAN INDONESIA 69
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ucapan terima kasih


Acknowledgments









1. OJK-Ketua Tim Pengarah: Sdr. Etty Retno 1. OJK-Chairwoman of the Steering Committee:
Wulandari Ms. Etty Retno Wulandari
2. OJK-Deputi Komisioner: Sdr. Lucky F. A. 2. OJK-Deputy Commissioners: Lucky F. A.
Hadibrata, Sdr. Robinson Simbolon, Sdr.M. Noor Hadibrata, Robinson Simbolon,
Rachman, Sdr. Ngalim Sawega dan Sdr. Dumoly M. Noor Rachman, Ngalim Sawega and
F. Pardede Dumoly F. Pardede
3. Sdr. Ardan Adiperdana (BPKP) 3. Ardan Adiperdana (BPKP)
4. Sdr. Mulya E. Siregar (BI) 4. Mulya E. Siregar (BI)
5. Sdr. Herman Hidayat (Kementerian BUMN) 5. Herman Hidayat (Ministry of State-Owned
6. Sdr. Dedi Rudaedi (DJP) Enterprises)
7. Sdr.Ito Warsito (BEI) 6. Dedi Rudaedi (DJP)
8. Sdr. Mas Achmad Daniri (KNKG) 7. Ito Warsito (BEI)
9. Sdr. Sigit Pramono (IICD) 8. Mas Achmad Daniri (KNKG)
10. Sdr. Sidharta Utama (IICD) 9. Sigit Pramono (IICD)
11. Sdr. Erry R. Hardjapamekas (IICG) 10. Sidharta Utama (IICD)
12. Sdri. Gunarni Soewarno (LKDI) 11. Erry R. Hardjapamekas (IICG)
13. Sdr. Jusuf Halim (IAI) 12. Gunarni Soewarno (LKDI)
13. Jusuf Halim (IAI)

Akhirnya, terima kasih kepada seluruh pejabat dan Finally, thank you to all officers and employees
pegawai OJK atas dedikasi dan dukungan yang of the OJK for their dedication and outstanding
luar biasa dalam penyusunan Roadmap Tata Kelola support in the preparation of this Indonesia
Perusahaan Indonesia ini. Corporate Governance Roadmap.

70 ROADMAP TATA KELOLA PERUSAHAAN INDONESIA
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ROADMAP TATA KELOLA PERUSAHAAN INDONESIA 71
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daftar singkatan


Abbreviations


















Bapepam-LK Badan Pengawas Pasar Modal dan Lembaga Keuangan
Agency for Supervision of the Capital Market and Financial Institutions
BEI (IDX) Bursa Efek Indonesia
Indonesia Stock Exchange

ESOP Employee Stock Ownership Program
Employee Stock Ownership Program

FCGI Forum for Corporate Governance in Indonesia
Forum for Corporate Governance in Indonesia
IHSG Indeks Harga Saham Gabungan
Composite Stock Price Index
IICD Indonesian Institute for Corporate Directorship
Indonesian Institute for Corporate Directorship
IICG Indonesian Institute for Corporate Governance
Indonesian Institute for Corporate Governance

KNKCG Komite Nasional Kebijakan Corporate Governance
National Committee for Corporate Gov ernance

KNKG Komite Nasional Kebijakan Governance
National Committee on Governance

LKDI Lembaga Komisaris dan Direksi Indonesia
Indonesian Institute of Commissioners and Directors
OECD Organisation for Economic Co-operation and Development
Organisation for Economic Co-operation and Development

OJK Otoritas Jasa Keuangan
Financial Services Authority
Pedoman Umum GCG Pedoman Umum Good Corporate Governance Indonesia yang diterbit-
kan KNKG
(Code of GCG) Indonesia’s Code of GCG issued by KNKG
PDB Produk Domestik Bruto
Gross Domestic Product

72 ROADMAP TATA KELOLA PERUSAHAAN INDONESIA
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daftar singkatan


Abbreviations













Prinsip CG OECD OECD Principles of Corporate Governance
ROSC CG Reports on the Observance of Standards and Codes on Corporate Gov-
ernance
RUPS Rapat Umum Pemegang Saham
General Meeting of Shareholders
UU OJK Undang-undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan
Law No.21 of 2011 concerning Financial Services Authority

UUPM Undang-undang Nomor 8 Tahun 1995 tentang Pasar Modal.
Law No.8 of 1995 concerning Capital Market

UUPT Undang-undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas.
Law No.40 of 2007 concerning Limited Liability Law

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daftar pustaka


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