Lenovo 2014 Annual Report Download - page 36

34 Lenovo Group Limited 2013/14 Annual Report
CORPORATE GOVERNANCE REPORT
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
GROUP’S OPERATIONS
BOARD OF DIRECTORS
Key objectives: responsible for the overall conduct of
the Group’s business and setting the Group’s strategy
Audit Committee
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
Internal Audit
Key objectives: provide
independent and objective
assessment of the Group’s system
of internal controls; guidance in
managing and controlling risks for
stakeholders; and proactive support
to improve control posture
Lenovo Executive Committee *
Key objectives: responsible for
increasing management efficiency
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
Compensation
Committee
Key objectives:
responsible for the
assessment and
recommendation of
compensation policy;
and the determination of
the compensation level
and packages for the
Chairman of the Board,
Chief Executive Officer,
other directors and
senior management
Nomination and
Governance
Committee
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 of the Board
and/or the Chief
Executive Officer and the
independence of
independent non-
executive directors
Chief Executive
Officer
Key objectives:
responsible for the
management of the
business and
implementation of the
Group’s strategy and
policies
* a management committee comprising the Chief Executive Officer and certain members of the senior management