Board Structure
The Board recently adopted formal written charters detailing the roles and responsibilities of the Board, Chairman and CEO to ensure these roles are clearly defined and separated. This also enables an efficient process of Board evaluation. As is obvious from the details of directors, the role of Chairman and CEO is exercised by different individuals.
The Board Chairman, Mr Davis, is one of the directors defined by the Board to be "independent". Both he and the CEO Mr McLean meet on a regular basis to discuss company issues.
The Chairman is responsible for the setting of the Board meeting agenda. Those charters will be subject to regular review to ensure they are appropriate in the current circumstances.
The non-executive members of the Board meet on a regular basis without management presence.
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