Principle 1 - The Board's conduct of affairs
The company is headed by an effective Board which is collectively responsible and works with Management for the long-term success of the company.
Principle 2 - Board composition and guidance
The Board has an appropriate level of independence and diversity of thought and background in its composition to enable it to make decisions in the best interests of the company.
Principle 3 - Chairman and Chief Executive Officer
There is a clear division of responsibilities between the leadership of the Board and Management, and no one individual has unfettered powers of decision-making.
Principle 4 - Board membership
The Board has a formal and transparent process for the appointment and re-appointment of directors, taking into account the need for progressive renewal of the Board.