The board delegates authority to the group chief executive officer, executive directors and senior management for the implementation of the strategy and the ongoing management of the business on a day-today basis.
The group chief executive officer, is responsible and accountable to the board for all group operations. The Chairperson of the board and the group chief executive officer have clearly defined and separate roles. The board also delegates powers to the elected subcommittees as set out below:
- Audit committee
- Risk committee
- Nominations and remuneration committee
- Social, ethics, and environmental sustainability committee
Each committee conducts an evaluation in a manner prescribed by the board, and the board thereafter evaluates the performance of the committees in order to determine whether they are functioning well and meeting their obligations in terms of their respective terms of reference.