3.2 |
PRESIDENT AND CHIEF EXECUTIVE OFFICER
3.2.1 | The key role of a President and Chief Executive Officer, among others, includes:-
i. | developing the strategic direction of the Group;
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ii. | ensuring that the Group's strategies and corporate policies are effectively implemented;
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iii. | ensuring that Board decisions are implemented and Board direction are responded to;
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iv. | providing directions in the implementation of short and long-term business plans;
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v. | providing strong leadership that is, effectively communicating a vision, management philosophy and business strategy to the employees;
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vi. | keeping Board fully informed of all important aspects of the Group's operations and ensuring sufficient information is distributed to Board members; and
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vii. | ensuring the day-to-day business affairs of the Group are effectively managed.
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3.2.2 | The sound operation of a Group depends critically on its President and Chief Executive Officer. Thus, he must be able to devote his full attention and time to be able to discharge his duties and responsibilities effectively and diligently.
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3.2.3 | In the absence of President and Chief Executive Officer, the Group is required to inform the Board/the Management/any other relevant parties of the person(s) who will be directly responsible for the overall running of the Group. The acting person(s) should be fully acquainted with the Group's affairs, and should be able to act promptly, with authority, on matters affecting the Group.
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3.2.4 | Being a full-time staff of the Group, the President and Chief Executive Officer has the moral and
professional obligations to devote his attention and commitment principally to the day-to-day
operations of the Group. In this regard, the President and Chief Executive Officer of the Group
must adhere to the following parameters with regard to the holding of other directorships:-
a) | The President and Chief Executive Officer of the Group is only allowed to hold directorships in the holding company, subsidiaries, sister companies and their subsidiaries subject to the following conditions:-
i. | sister companies and their subsidiaries are limited to core business of the Group only;
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ii. | The number of directorships that can be held by a President and Chief Executive Officer either in the holding company, subsidiaries, sister companies and their subsidiaries should not be more than five posts at any one time,
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iii. | The President and Chief Executive Officer of the Group is not allowed to hold any executive position in another corporation.
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| b) | The President and Chief Executive Officer of the Group is allowed to hold directorships in companies/institutions/organisations to represent the interest of the Group, non-profit
organisations and the number of such directorship will not be taken into account in computing the maximum limit of five. To ensure the President and Chief Executive Officer's attention to the operations of the Group is not affected, the Board is required to determine the appropriate limit for the total number of directorships that can be held by the President and Chief Executive Officer in those organisations.
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c) | The President and Chief Executive Officer of the Group is also not allowed to hold directorships in an associate company and family-owned company. However, exemption to hold one directorship in a family-owned company may be considered if there is a strong justification from the President and Chief Executive Officer for the appointment.
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| 3.2.5 | The Board should establish criteria to evaluate and assess the performance of the President and Chief Executive Officer of the Group. The criteria established in assessing the performance of the President and Chief Executive Officer may include, among others, the financial and
business performance of the Group and the accomplishment of long-term strategy, capacity
building and business plan.
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