Board Charter
The Company recognises the importance of good corporate governance and is committed to complying with a Code of Conduct and other appropriate Corporate Governance Policies. The corporate governance framework for the Group is underpinned by the ASX Principles of Good Corporate Governance and Best Practice Recommendations.
The Company is committed to delivering strong returns and shareholder value while also promoting shareholder and general market confidence in the Group. The Company has put in place a number of policies that are in line with the ASX Guidelines.
The Board represents shareholders and has the ultimate responsibility for managing the Group's business and affairs to the highest standards of corporate governance and business conduct. The Board operates in accordance with the formal Board Charter which establishes the duties and responsibilities of the Board.
As outlined in the Board Charter, the Board is responsible for the management of the affairs of the Group, including:
- Developing, approving and monitoring the corporate strategy, financial plans and objectives of the Group;
- Determining the Company's dividend policy and approving major capital expenditure, capital management and all major acquisitions, divestitures and corporate transactions of the Group;
- Appointing, monitoring and removing the Chairman and other members of the Board;
- Approving all accounting policies, financial reports and material reporting of the Group;
- Approving and monitoring delegations of authority;
- Establishing the goals and objectives for the Board and its Committees each year;
- Reviewing the performance of the Board, each Board Committee and each individual Director against the relevant Charters, corporate governance policies and agreed goals and objectives;
- Reviewing the remuneration of the Company's Executive and Non-Executive Directors;
- Ensuring that effective audit, risk management and regulatory compliance programs are in place to protect the Group's assets and shareholder value; and
- Reviewing the performance and effectiveness of the Group's corporate governance policies and procedures.
The Board Charter also establishes the specific powers and responsibilities of the Chairman and the Chief Executive Officer.
To assist the Board in carrying out their responsibilities, the Board has established a number of Committees which act primarily in a review or advisory capacity.
The attached Board Charter* further details the structure and responsibilities of the Board.
*Click here to view the Charter.