Lenovo 2013 Annual Report Download - page 49

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2012/13 Annual Report Lenovo Group Limited 47
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 external auditor; and other significant operational and financial matters.
Board activities in the financial year ended March 31, 2013
Board activities are structured to assist the Board in achieving its goal to support and advise senior management on the
delivery of the Group’s strategy within a transparent governance framework. The diagram below shows the key areas
of focus for the Board, which appear as items on the Board’s agenda at relevant times throughout the financial year.
Concentrated discussion of these items assists the Board in making the most appropriate decision based on the long-term
opportunities for the business.
Business
Awareness and
Performance
• CEO’s report
• Operations updates
• Board Committees’ reports
Business
Strategy
Discussion of main strategic
issues relating to commercial,
geographic and structural areas
Financial
• Chief Financial
Of cer’s report
• Financial results
• Forecasts
Corporate
Governance,
Diversity and Talent
• Board performance
• Continuous disclosure policy
• Succession planning
Key areas of focus
BOARD OF
DIRECTORS
Business Risks
Review of processes and
controls for strategic and
operational risks