The ultimate responsibility for the governance of the Company resides with the Board which is accountable to the shareholders of the Company for creating and delivering sustainable value through efficient management of the Company’s business. The Board carries out its responsibility through its Committees: the Finance, Audit & Risk Committee (“FARCOM”) and the General and All Purpose Committee (“GENCOM”), which also report and make recommendations to the Board on issues within their respective terms of reference. Through these Committees, interactive dialogue is employed on a regular basis to set broad policy guidelines, and to ensure proper management and direction of the Company. All members of the Board and Board Committees have access to the services of the Company Secretary.
Currently, the Board comprises seven (7) members, three (3) of whom are Executive Directors, while the other four (4) are Non-Executive Directors. The effectiveness of the Board derives from the appropriate balance and mix of skills and experience of the Directors, both Executive and Non‐Executive. The Board and the Board Committees respectively meet quarterly in each financial year, although additional meetings may be convened when the need arises. Decisions are taken at the Board meetings by way of resolutions, as provided for in the Companies and Allied Matters Act, 2004.