Our governance framework
The board and board committees
The board maintains full and effective control over the company and is accountable and responsible for its performance. The board reviews the strategic priorities of the group, determines the investment policies and delegates to management the detailed planning and implementation of the objectives and policies in accordance with appropriate risk parameters. The board monitors compliance with policies and achievement against objectives by holding management accountable for its activities through quarterly performance reporting and budget updates.
The board charter codiﬁes the board’s composition, appointment, authorities, responsibilities and processes and sets out the ﬁduciary duties of the directors of the company. It provides the board with a mandate to exercise leadership, determine the group’s vision and strategy and monitors operational performance.
The board governs through clearly mandated board committees. Each committee has speciﬁc written terms of reference issued by the board and adopted by the committee. All committee chairmen report orally on the proceedings of their committees at the board meetings.