Board Role & Charter
The Board has the responsibility to direct and supervise the management of the business and affairs of the co-operative.
Key activities in discharging this responsibility are:
- Determination of payout
- Setting of the Fair Value Share price after determination of the Fair Value range by the Valuer
- Review and approval of the budget and corporate plan
- Appointment and review of the performance of the CEO
- Engagement in the strategic planning process and in the setting of the strategy for the company and the major business units
- Approval of significant acquisitions and disposals outside management's delegated authorities; oversight of the Board committees and the areas covered by each of those committees.
The Board has issued a written delegation of authority to management, which it regularly reviews, and has reporting and review processes in place to monitor performance of management in the conduct of the operations of the company.
The Board has adopted a Charter, which defines its manner of operation and relationship with management. A process exists to regularly review the Charter to ensure that it reflects the role of the Board as it develops.
