141 GOVERNANCE CORPORATE GOVERNANCE STATEMENT (cont’d) A. BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) i. Board Responsibilities (cont’d) 1. Board of Directors (cont’d) 5P FGGFDUJWFMZ EJTDIBSHF JUT àEVDJBSZ EVUJFT BOE MFBEFSTIJQ GVODUJPOT UIF #PBSE EFMFHBUFT DFSUBJO SFTQPOTJCJMJUJFT UP UIF GPMMPXJOH #PBSE $PNNJUUFFT XIJDI PQFSBUF XJUIJO UIFJS EFàOFE 5FSNT PG 3FGFSFODF BOE QSPWJEF recommendations and advice: (i) Nomination Committee (“NC”) (ii) Remuneration Committee (“RC”) (iii) Audit Committee (“AC”) (iv) Risk Management Committee (“RMC”) (v) ESOS Committee (“EC”) &BDI #PBSE $PNNJUUFF PQFSBUFT XJUIJO JUT BQQSPWFE 5FSNT PG 3FGFSFODF XIJDI BSF QFSJPEJDBMMZ SFWJFXFE CZ UIF Board. The Board appoints the chairman and members of each Board Committee. The chairman of each Board Committees reports the outcomes of their meetings to the Board and provides SFDPNNFOEBUJPOT )PXFWFS UIF VMUJNBUF SFTQPOTJCJMJUZ GPS àOBM EFDJTJPOT PO BMM NBUUFST SFTUT XJUI UIF #PBSE The Board may establish additional committees with specific mandates to act on its behalf when the needs arise. These committees operate under approved Terms of Reference or guidelines. #PBSE NFFUJOH BHFOEB JODMVEF TUBUVUPSZ NBUUFST HPWFSOBODF BOE NBOBHFNFOU SFQPSUT TUSBUFHJD SJTLT TUSBUFHJD QSPKFDUT BOE PQFSBUJPOBM JUFNT 2. Separation of Positions of Chairman and Group Managing Director The Board recognises the importance of a clear division of roles and responsibilities between the Chairman of the Board and Group Managing Director to ensure a balance of power and authority in managing and directing UIF (SPVQ 5IF SPMFT PG UIF $IBJSNBO PG UIF #PBSE BOE UIF (SPVQ .BOBHJOH %JSFDUPS BSF EJTUJODU BOE TFQBSBUF fostering accountability and ensuring a clear division of responsibilities. This separation of roles also promotes a healthy and open exchange of views between the Board and Management during deliberation on the Group’s CVTJOFTTFT TUSBUFHJFT BOE LFZ BDUJWJUJFT 5IF &YFDVUJWF $IBJSNBO PG UIF #PBSE %BUP %S /PSSBFTBI CJOUJ )BKJ .PIBNBE JT QSJNBSJMZ SFTQPOTJCMF GPS ensuring the effective and efficient functioning of the Board. She leads the Board with a focus on governance BOE DPNQMJBODF TFSWJOH BT B GBDJMJUBUPS EVSJOH #PBSE NFFUJOHT 5IF $IBJSNBO PG UIF #PBSE T LFZ SFTQPOTJCJMJUJFT JODMVEF BNPOHTU PUIFST r -FBEFSTIJQ BOE (PWFSOBODF 1SPWJEJOH MFBEFSTIJQ UP UIF #PBSE UP FOBCMF JU UP QFSGPSN JUT SFTQPOTJCJMJUJFT FGGFDUJWFMZ TFUUJOH UIF #PBSE BHFOEB BOE FOTVSJOH UIBU #PBSE NFNCFST SFDFJWF DPNQMFUF BOE BDDVSBUF information in a timely manner; r .FFUJOH 'BDJMJUBUJPO -FBEJOH #PBSE NFFUJOHT BOE EJTDVTTJPOT FODPVSBHJOH BDUJWF QBSUJDJQBUJPO BOE allowing dissenting views to be freely expressed; r #PBSE .BOBHFNFOU *OUFSGBDF .BOBHJOH UIF JOUFSGBDF CFUXFFO UIF #PBSE BOE .BOBHFNFOU r 4UBLFIPMEFS $PNNVOJDBUJPO &OTVSJOH FGGFDUJWF DPNNVOJDBUJPO XJUI TUBLFIPMEFST BOE UIBU UIFJS WJFXT BSF communicated to the Board as a whole; and r $PSQPSBUF (PWFSOBODF -FBEJOH UIF #PBSE JO FTUBCMJTIJOH BOE NPOJUPSJOH HPPE DPSQPSBUF HPWFSOBODF practices within the Group. The Board has delegated the responsibility of overseeing the day-to-day management of the Group’s business PQFSBUJPOT BOE UIF JNQMFNFOUBUJPO PG QPMJDJFT BOE TUSBUFHJFT UP UIF (SPVQ .BOBHJOH %JSFDUPS 8POH 5IFBO 4PPO and the Management team. This delegation aims to achieve the Group’s objective of creating long-term value for its shareholders.
RkJQdWJsaXNoZXIy NDgzMzc=