- Reviews, approves and monitors the implementation of corporate strategy.
- Reviews overall policies and objectives for corporate contributions and approves contributions budget annually.
- Guides and advises management.
- Sets corporate KPIs and tracks progress towards targets
- Conducts and presents self-evaluation of board performance to shareholders.
- Suggests board remuneration for following year to shareholders.
- Hires and fires management (if delegated by CEO).
- Approves annual plans and budgets.
- Approves capital expenditures exceeding the budget.
- Oversees risk management and internal control systems.
- Conducts succession planning and develops senior executive talent.
- Approves procedures for distribution of dividends.
- Ensures compliance with corporate ethics.
- Approves related party transactions.
- Approves filing of suits and claims.
- Selects the external auditor.
- Fills vacancies on the Board and designates nominees for election to the Board by the shareholders.
- Establishes Board committees and appoints committee members.
- Approves the Annual Report.
- Reviews summary financial and operating results (quarterly and annually).
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