Lenovo 2013 Annual Report Download - page 38

CORPORATE GOVERNANCE REPORT
Lenovo Group Limited 2012/13 Annual Report
36
The board of directors (the “Board”) and the management of Lenovo Group Limited (the “Company”) strive to attain
and uphold a high standard of corporate governance and to maintain sound and well-established corporate governance
practices for the interest sake of shareholders and other stakeholders including customers, suppliers, employees and the
general public. The Company abides strictly by the governing laws and regulations of the jurisdictions where it operates
and observes the applicable guidelines and rules issued by regulatory authorities. It regularly undertakes review of its
corporate governance system to ensure it is in line with international and local best practices.
CORPORATE GOVERNANCE STRUCTURE
The Board continuously reviews its governance structure to ensure its relevance and ability to meet the challenges of
the future.
SHAREHOLDERS AND
OTHER STAKEHOLDERS
BOARD OF DIRECTORS
Key objectives: responsible for the overall conduct of the Group’s business and setting the Group’s strategy
Audit
Committee
Compensation
Committee
Nomination and
Governance Committee
Chief Executive
Offi cer
Key objectives: provide an
independent review of the
financial statements, internal
controls and risk management
systems, the oversight of
external audit and the
management of the Company’s
relationship with external
auditor
Key objectives: responsible for
the assessment and
recommendation of
compensation policy; and the
determination of the
compensation level and package
for the Chairman of the Board,
Chief Executive Officer, other
directors and senior management
Key objectives: assist the
Board in overseeing Board
organization, reviewing
succession planning,
developing the corporate
governance principles and
policy and responsible for the
assessment of the
performance of the Chairman
and/or the Chief Executive
Officer and the independence
of independent non-executive
directors
Key objectives: responsible for
the management of the
business and implementation
of the Group’s strategy and
policy
Lenovo Executive Committee*
Key objectives: responsible for
increasing management effi ciency
and communication among senior
management; and for planning,
strategizing, and implementing major
company decisions
Senior Management
Key objectives: responsible for the daily
operations and administration function
of the Group
Internal Audit
Key objectives: provide independent and
objective assessment of the Group’s
system of internal control; guidance
in managing and controlling risks for
stakeholders; and proactive support to
improve control posture
GROUP’S OPERATIONS
* a management committee comprising the Chief Executive Officer and certain members of the senior management