The responsibilities of the EXCO are to discuss
matters in relation to the business, financial
performance and strategy of the Group. They are
to make recommendations and suggestions for
approval by the Board where appropriate and to
make decisions on behalf of the Board where
permitted.
The EXCO with a majority being Non-Executive
Directors comprises the following members:
- Tan Sri Saw Huat Lye (Chairman,
Senior Independent Non-Executive Director)
- Charles Henry Ireland (Non-Independent Executive Director)
- Dr Leslie Buckley
(Non-Independent Non-Executive Director)
- Siobhan Mary Hamilton
(Non-Independent Non-Executive Director)
The salient terms of reference of the EXCO are
set out below:
| (i) | To review the business and financial
performance of the Group, including:
- annual budgets (and the
implementation of approved capital
and operational expenditure),
management accounts, statutory
Directors’ Report and financial
statements
- proposals for the acquisition or
disposal of businesses, mergers,
restructuring, joint ventures or other
corporate transactions
|
| (ii) | To raise and resolve in a timely manner
normal operational business issues
affecting the Group which cannot be
resolved by Management;
|
| (iii) | To discuss business strategies and plans
to be recommended to the Board, and to
consider and, if thought fit, to approve
business development projects falling
within the appropriate financial limits
contained in the Authorisation Policy;
|
| (iv) | To review, report and make
recommendations to the Board on
specific human resource policies (after
consultation with Management where
appropriate) in respect of:
- the identification of key personnel
with high potential
- plans for succession planning and
training
- candidates for the position of
Managing Director of the Company
and any other company within the
Group and Senior Management
personnel for the Group
|
| (v) | To approve or to make recommendations
(depending on the Authorisation Policy) on
introduction of new products, which are
complementary to the existing business,
and the introduction of new brand names
and packaging designs;
|
| (vi) | To make recommendations on the
formulation and implementation of a long
term strategic vision, a 3-year business
plan and an operational plan for the Group;
|
| (vii) | To review and recommend changes in the
overall organisational structure of the
Group; and
|
| (viii) | To approve the establishment of bank
accounts and to approve or recommend
(depending on the Authorisation Policy)
the acceptance of credit facilities or the
creation of any encumbrance over the
assets of the Group.
|
During the financial year ended 30 June 2011,
six (6) EXCO meetings were held and all the
members attended the said meetings.
|
