National Grid 2008 Annual Report Download - page 487

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 36054
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-4.C.11, Doc: 11, Page: 2
Description: EXH 4(C).11
0/1901.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/901/1*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 36054
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-4.C.11, Doc: 11, Page: 2 Description: EXH 4(C).11
0/1901.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/901/1*
the Directors’ Information Pack. You will also be subject to the Company’s Share Dealin
g
Code, also set out in the Information
Pack.
Role
All Directors, Non-executive and Executive, have the same
g
eneral le
g
al responsibilities to the Company. The Board as a whole is
collectively responsible for promotin
g
the success of the Company for the benefit of its members by directin
g
and supervisin
g
the
Company’s affairs. The Board:
In addition to these requirements of all Directors, the role of the Non-executive Director has the following key elements:
Committees
This letter refers to your appointment as a Non-executive Director of the Company. You have also been requested to serve on the
Audit and Risk and Responsibility Committees of the Board.
2 of 5
• provides effective business leadership of the Company within a framework of prudent and effective controls which
enable risk to be assessed and managed;
• sets the Company’s strategic aims, ensures that the necessary financial and human resources are in place for the
Company to meet its objectives, and reviews management performance; and
• sets the Company’s values and standards and ensures that its obligations to its shareholders and others are
understood and met.
• Strategy: Non-executive Directors should constructively challenge and contribute to the development of strategy;
• Performance: Non-executive Directors should scrutinise the performance of mana
g
ement in meetin
g
a
g
reed
g
oals and
objectives and monitor the reporting of performance;
• Risk: Non-executive Directors should satisfy themselves that the financial function of the Company is professionally
managed and that financial controls and systems of risk management are robust and defensible; and
• People: Non-executive Directors are responsible for determining appropriate levels of remuneration for Executive
Directors and have a prime role in appointing, and where necessary removing, senior management and in succession
p
lannin
g
.