Lenovo 2015 Annual Report Download - page 63

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2014/15 Annual Report Lenovo Group Limited
Time allocation
During the fiscal year 2014/15, a total of seven Board
meetings were held, of which four Board meetings were
primarily to review quarterly business performance and
strategy execution and the remaining three were for
reviewing specific strategy in the geography, business
or other relevant areas. Given the geographical spread
of the Group’s business, in addition to the meetings
in Hong Kong and the United States, the Company
also held meetings in Wuhan with a particular focus on
reviewing the strategies and business of Lenovo Mobile
Business Group which also provided an opportunity
for directors to meet with the local management team.
The chart beside this paragraph shows how the Board
allocated its time during the year.
Directors are expected to attend all meetings of the
Board and the Committees on which they serve and to
devote sufficient time to the Company to perform their
duties. Where Directors are unable to attend meetings
they receive papers for that meeting giving them the
opportunity to raise any issues with the Chairman in
advance of the meeting.
At each scheduled meeting the Board receives updates from the CEO and Chief Financial Officer on the financial
and operational performance of the Group and any specific developments in their areas of the business for which
they are directly responsible and of which the Board should be aware. Chairman of the respective Board committees
would also report on matters discussed and/or approved at the relevant Board committees’ meetings held prior to
the Board meetings. Meetings are structured so as to allow for consideration and debate of all matters. In addition
to these regular reports, the Board considered and/or resolved the following non-routine matters during the year:
• Appointment of Mr. William Tudor Brown as a member of Audit Committee
• Appointment of Mr. Yang Chih-Yuan Jerry as an independent non-executive director
• Adoption of the new articles of association of the Company
• Amendments to various agreements entered into with NEC Corporation or its subsidiaries
• Amendments to the delegation of authority policy of the Company
• Discussion on new businesses
• Discussion on Board and Board committees’ evaluation results
The Board
Allocation of agenda time
Operational developments
Financial
Corporate governance
and directors’ training
Strategic matters
Board Committees’ reports
Other matters
(including Ad hoc
projects and treasury
matters)
11%
15%
37%
15%
3%
19%