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Annual Report & Accounts 2016 - Governance
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38 GVC Holdings PLC Annual Report 2016 LEADERSHIP: CORPORATE GOVERNANCE OVERVIEW Governance continued CHAIRMAN HOW THE BOARD OVERSEES MANAGEMENT AND THE BUSINESS € Oversees the effective running of the Board. € Ensures that the Board as a whole plays a full and constructive part in the development and determination of GVC's strategy and overall commercial objectives. € Acts as a guardian of the Board's decision-making. € Promotes the highest standards of integrity, probity and corporate governance throughout the Company and particularly at Board level. € Oversees the effective engagement with the Company's various stakeholders. MANAGEMENT OVERSIGHT • Runs the Company's business. • Proposes and develops GVC's strategy and overall commercial objectives in conjunction with the Chairman. • Responsible, with the senior executive team for implementing the decisions of the Board and its committees. • Promotes and conducts affairs of GVC with the highest standards of integrity, probity and corporate governance. • Manages the leadership team and promotes the strategic mission and goals to all employees. • Engages with external stakeholders to explain the corporate goals and progress of the business strategy. • Ensures future business decisions are grounded in solid financial criteria. • Provides insight and analysis to support the CEO and senior executive team. • Leads key initiatives in finance that support overall strategic goals. • Funds, enables and executes the strategy set by the CEO. • Develops and defines the overall strategy of the organisation. • Presents the organisation's progress on strategic goals to external stakeholders. CEO CFO As well as performing the normal duties expected of an NED the SID also: • Is available to shareholders if they have concerns which contact through the Chairman, CFO or CEO has failed to resolve or for which contact is inappropriate. • Leads the NEDs in evaluating performance of the Chairman, taking into account the views of Executive Directors. • Maintains sufficient contact with shareholders to understand their issues and concerns. • Performs such other tasks and responsibilities as may be contemplated by the code or best practice from time to time. • Constructively challenges and contributes to the development of strategy. • Scrutinises the performance of management in meeting agreed goals and objectives and monitors the reporting of performance. • Satisfies themselves that financial information is accurate and that both controls and the systems of risk management are robust and defensible. • Is responsible for determining appropriate l evels of remuneration of Executive Directors and has a prime role in succession planning, appointing and where necessary removing senior management. SID NED