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Unformatted text preview: o Reviewing annually the charter of the audit committee itself, advising chairman of the board if changes are necessary The Remuneration Committee-Establish a formal and transparent procedure for developing policy on top executive remuneration, determining the remuneration packages of each director-Attract and retain good directors-Link reward with both corporate and individual performance The Nomination Committee-INEDs-Make recommendations on appointment of new directors to the board-Prevent board becoming a cosy club-Reduce possibility of dominant directors, including CEO and chairman-Classified board: a staggered board is one whose members terms of appointment are staggered, so that only a part of the boar retire each year (often 1/3) provides stability...
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This document was uploaded on 11/10/2011.
- Fall '10