LBIX » Topics » Role and Responsibilities

This excerpt taken from the LBIX 6-K filed Jun 1, 2006.

Role and Responsibilities

The primary responsibility of the Board is to foster the long-term success of the Company.


The Board shall also have the following responsibilities:

review and approve management’s strategic and business plans;

 

 

review and approve the Company’s financial plans, objectives and budgets, including significant capital allocations and expenditures;

 

monitor corporate performance against the strategic plans, business plans, and budgets;

 

 

approve acquisitions and divestitures of business operations, strategic investments and alliances and major business development initiatives;

 

identify, review and monitor significant opportunities and risks for the Company, and ensure that appropriate risk management and control procedures are in place;

 

determine that procedures are in place designed to ensure ethical behaviour and compliance with laws and regulations, auditing and accounting principles, and the Company’s own governing documents;

 

monitor the Company’s approach to effective communication with shareholders, analysts, other stakeholders and the public generally;

 

ensure that plans have been made for management succession, including appointing, training and monitoring executive management;

 

review and consider recommendations made by the various committees of the Board.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki