This excerpt taken from the FS 6-K filed Apr 12, 2006.
The Role of the Board
In fulfilling its statutory mandate and discharging its duty of
stewardship of Four Seasons, the Board assumes responsibility for, among other
reviewing and approving the strategic planning and business objectives
that are submitted by management and monitoring the implementation by
management of the strategic plan,
reviewing the principal business risks for Four Seasons and
overseeing, with the assistance of the Audit Committee, the implementation and
monitoring of appropriate risk management systems and monitoring of risks,
ensuring, with the assistance of the Corporate Governance Committee,
the effective functioning of the Board and its Committees in compliance with
applicable corporate governance requirements of applicable legislation, and
that such compliance is reviewed periodically by the Corporate Governance
ensuring internal control and management information systems are in
place, evaluated as part of the internal audit process and reviewed
periodically on the initiative of the Audit Committee,
assessing the performance of executive officers, including monitoring
the establishment of appropriate systems for succession planning (including the
development of policies and principles for Chief Executive Officer selection
and performance reviews and policies regarding succession in an emergency or
upon retirement of the Chief Executive Officer) and periodically monitoring the
compensation levels of such executive officers based on the determinations made
by the Human Resources Committee,
ensuring that we have in place a policy for effective communication
with shareholders, other stakeholders and the public generally, and
reviewing and, where appropriate approving, the recommendations made
by the various Committees including the selection of nominees for election to
the Board, appointment of directors to fill vacancies on the Board, appointment
of members of the various Committees and establishing the form and amount of
This mandate and specific expectations of directors that are intended
to promote the discharge by the directors of their responsibilities and the
efficient conduct of the Board are outlined in the Boards Corporate
Governance Guidelines (which includes the Board Charter), which are attached as
Schedule B and can be viewed at our website at www.fourseasons.com.
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