Charter of the Board of Directors
In accordance with the
charter of the Board of Directors, the Board shall:
- decide on Group strategy,
- review and approve the interim reports,
consolidated financial statements and Annual Report,
- confirm the Group’s business plan, budget
and investment plan,
- decide on individual investments,
acquisitions, divestments or corporate restructuring and contingent
liabilities that are strategically or financially significant,
- confirm the Group’s risk management and
reporting procedures,
- confirm the Group’s insurance policy,
- approve the Group’s financing policy,
- decide on the compensation and incentive
schemes for Group management,
- proposes dividend payout amount to the
Annual General Meeting,
- appoint the company’s President and CEO
and decide on his compensation,
- assume responsibility for all other duties
stipulated for Boards of Directors in the Companies Act and elsewhere,
- annually evaluate its operations.