Lenovo 2012 Annual Report Download - page 45
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2011/12 Annual Report Lenovo Group Limited 43
The Board may also establish committees on an ad hoc basis to approve specific projects as deemed necessary. Should
need arise, the Board will authorize an independent board committee comprising the independent non-executive directors
to review, approve and monitor connected transactions (including continuing connected transactions) that should be
approved by the Board.
All the Board Committees follow the same principles and procedures as those of the Board and are provided with sufficient
resources to perform their duties. The Board Committees will report to the Board on a regular basis, including their
decisions or recommendations to the Board, unless there are legal or regulatory restrictions on their ability to do so. The
member list of the Board Committees is also posted on the Company’s website and HKEx’s website.
Audit Committee
The Audit Committee is authorised by the Board to perform its duties within its terms of reference. Details of the
Audit Committee, including its membership, terms of reference and work done during the fiscal year 2011/12 are
summarized in the Audit Committee Report as stated on pages 59 to 61 of this annual report.
Compensation Committee
The Compensation Committee is authorised by the Board to perform its duties within its terms of reference. Details
of the Compensation Committee, including its membership, terms of reference and work done during the fiscal year
2011/12 are summarized in the Compensation Committee Report as stated on pages 62 to 71 of this annual report.
Strategy Committee
Membership
TheStrategyCommittee(definedas“Committee”inthissection)wasdisbandedonFebruary8,2012.Itsstrategy
and performance related responsibilities were taken over by the full Board and the Nomination and Governance
Committee respectively. Prior to its disbandment, the Committee was composed of Mr. Yang Yuanqing (Committee
Chairman), Mr. William O. Grabe (Member) and Ms. Ma Xuezheng (Observer).
Responsibilities and summary of work
The Committee was responsible for assisting the Board in determining the vision, the long-term strategy and
intermediate targets for the Company and reviewing the annual targets of the Company. The Committee was
also responsible for the assessment of the performance of the CEO and making proposals to the Compensation
Committee.
The Committee held three meetings during the period from April 1, 2011 to February 8, 2012 to review the business
performance and business strategy of the Group and assess the performance of the CEO for FY2010/11.