Lenovo 2014 Annual Report Download - page 52
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50 Lenovo Group Limited 2013/14 Annual Report
CORPORATE GOVERNANCE REPORT
During the fiscal year 2013/14, 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 and also new projects. Given the
geographical spread of the Group’s business, in addition
to the meetings in Hong Kong, Beijing and New York, the
Company also held meeting in Brazil with a particular focus
on reviewing the strategies and business in this area which
provided an opportunity for directors to meet with local
management team. The chart beside this paragraph shows
how the Board allocated its time during the year.
The regular items of a Board meeting for reviewing quarterly
results include a report from CEO on business performance and strategy execution, a report from Chief Financial
Officer on financial performance and reporting and reports from the chairman of the respective Board committees on
matters discussed and/or approved at the relevant Board committees’ meetings held prior to the Board meetings. In
addition to these regular reports, the Board considered and/or resolved the following non-routine matters during the
year:
• Appointment of Mr. Grabe as the Lead Independent Director and cessation as chairman of the Compensation
Committee
• Re-designation of Ms. Ma as an independent non-executive director and appointment as chairman of the
Compensation Committee
• Appointments of Mr. William Tudor Brown and Mr. Zhu Linan as member of the Compensation Committee
• Acquisition of X86 server hardware and related maintenance services business of International Business Machines
Corporation
• Acquisition of Motorola Mobility Holdings LLC and its subsidiaries
• Amendment to the delegation of authority policy
• Adoption of the Diversity Policy of the Company
• Adoption of non-employee directors stock ownership guidelines
• Discussion on Board and Board committees’ evaluation results
The Board
Allocation of agenda time
31%
12%
21%
21%
10%
5%
Financial
Operational developments
Strategic matters
Corporate Governance and
directors' training
Board Committees' reports
Other matters (including ad
hoc projects and treasury)