"The article states that sound corporate governance practices provide an important framework to assist the Board in fulfilling its responsibilities. Accordingly, the Board will formally adopted corporate governance principles relating to its functions, structure and operations. These principles, which the Board reviews periodically, are : Board Evaluation. The Board will annually evaluate the effectiveness of the Board and its committees. Each director will complete a written assessment of the Board?s performance in specified categories such as fiduciary oversight; Board governance and process; strategic planning and business decisions; and financial matters. The Board will meet in executive session to discuss these assessments. Chief Executive Officer Evaluation. The Board will evaluate the performance of the Chief Executive Officer at least annually. Each outside (non-management) director will complete an assessment, and the Chief Executive Officer will complete a self-assessment, of the Chief Executive Officer?s performance in specified categories such as strategic planning, financial matters and leadership. Approval of Major Strategies and Financial Objectives. It defines the board structures, to know the more about the principles refer the article."

Provided by: Topic: Software Date Added: Jan 2003 Format: HTML

Find By Topic