MATTERS RESERVED FOR CEO & SENIOR MANAGEMENT

Vision/Strategy

  • Formulate with the Board the vision and strategy, and initiate reviews, as appropriate
  • Develop actions with the management team to achieve the vision and implement the strategy
  • Report to the Board regularly on the company’s progress against the vision and strategy.

Management Team And Employees

  • Negotiate terms and conditions of appointment of senior executives to be approved by the Board
  • Appointment of senior executives
  • Develop succession plan and senior executives development programs
  • Approve general conditions of employment of all other staff members
  • Provide strong leadership to the management team and ensure all employees understand the vision and strategy and their part in its achievement
  • Ensure procedures and training are in place to provide a safe work environment
  • Ensure employees are educated on legal requirements and company policies such that compliance is the culture and a high level of ethical behaviour is expected.

Board

  • Ensure all matters requiring review or approval by the Board are brought to the Board with adequate information and time to allow proper consideration of such matters
  • Advise the Board of any significant change in the risk profile of the company together with actions taken or proposed, in a timely manner
  • Provide, with the CFO, certification to the Board on the fairness of the financial statements (annually, half-yearly, quarterly as relevant) and the adequacy of the policies and procedures in place as regards management of risk, and internal controls
  • Report to the Board on a monthly basis the performance of all parts of the business against budgets and last year
  • Ensure all presentations (on matters agreed with the Board) are made on a timely and in an informative manner
  • Ensure Directors are continually educated on the business of the company, the environments in which it operates, changes in legal obligations and developments in corporate governance best practice.

Delegated Authority

The CEO and management have the delegated authority set out in the authority list as approved by the Board.

The CEO has authority to appointment and terminate employees, except the CFO/ Company Secretary whose appointment and termination must be approved by the Board.

Management

All other matters necessary for the day-to-day management of the company.