The board leads and controls the Company and has collective responsibility for promoting the long-term success of the Group. While the board delegates some responsibilities to its committees or, through the CEO, to management, it has agreed a formal schedule of matters that are specifically reserved for its consideration. These include constructively challenging and helping develop proposals on business strategy, financing arrangements, material acquisitions and divestments, approval of the annual budget, major capital expenditure projects, risk management, treasury policies and establishing and monitoring internal controls. At each meeting, the board reviews progress of the Group towards its objectives and receives papers on key subjects in advance of each board meeting. These typically cover:
Find out more in the full Schedule of Matters Reserved for the Board.
Matters which the Board considers suitable for delegation are contained in the terms of reference of its Committees.
In addition, the Board will receive reports and recommendations from time to time on any matter which it considers significant to the group.