Lenovo 2016 Annual Report Download - page 69

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2015/16 Annual Report Lenovo Group Limited
Time allocation
During the fiscal year 2015/16, a total of six Board meetings were held, of which four Board meetings were
primarily to review quarterly business performance and strategy execution and the remaining two 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, Beijing and United States, the
Company also held meeting in Barcelona with a particular focus on reviewing the strategies and business
of Mobile Business Group which also provided an opportunity for directors to attend Mobile World
Congress. The below chart shows how the Board allocated its time during the year.
THE BOARD
Allocation of agenda time
13%
5%
7%28%
9%
FY2015/16 FY2014/15
Finanical 7%11%
Operational developments 28%15%
Strategic matters 38%37%
Governance, sustainability and
directors’ training 9%15%
Board Committees’ reports 5%3%
Other matters (including Ad hoc
projects and treasury matters) 13%19%
38%
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:
• Amendments to the terms of reference of Audit Committee
• Appointment of Mr. Gordon Orr as a non-executive director
• Continuing connected transactions with Compal Electronics, Inc.
• Discussion on Board and Board committees’ evaluation results