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2011/12 Annual Report Lenovo Group Limited 41
DELEGATION BY THE BOARD
Role of the Board
The Group is controlled through the Board who is
responsible for steering the success of the Group
by overseeing the overall strategy and directing and
supervising its affairs in a responsible and effective manner.
The Board has formulated a clear written policy that
stipulates the circumstances under which the management
should report to and obtain prior approval from the Board
before making decisions or entering into any commitments
on behalf of the Group. The Board will regularly review the
policy.
The specific responsibilities reserved to the Board for its
decision and consideration cover: annual budget, major
capital and equity transactions, major disposals and
acquisitions, connected transactions, recommendation
on appointment or reappointment of auditor and other
significant operational and financial matters.
The Board considered and/or resolved the following major
non routine matters during the year:
• AcquisitionofsharesinMedionAG
• FormationofajointventurewithCompalElectronics,
Inc.
• AppointmentofMr.NobuyukiIdeiandMr.ZhaoJohn
Huan as directors
• ResignationofMr.JamesG.CoulterandMr.Liu
Chuanzhi as directors
• Re-designationofMr.Grabefromanon-executive
director to an independent non-executive director
• Amendmentstothetermsofreferenceofthe
Audit Committee, Compensation Committee and
Nomination and Governance Committee
• AmendmentstotheArticlesofAssociation
• Adoptionoftheshareholders’communicationpolicyof
theCompany(the“Shareholders’ Communication
Policy”)
• DisbandmentoftheStrategyCommittee
• AdoptionofaBoardprincipleonthetermof
independent non-executive directors