Copyrights © All Rights Reserved to Savola Group
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data, documents and records, provided that they shall be complete, clear, correct and not
misleading and in a timely manner to enable them to perform their duties and tasks.
In light of this and to reinforce the effective communication between Savola and Board
members, a special portal/intranet has been created for Savola’s Board members and all
members have been provided with a user name and password to access the
portal/intranet. The portal/intranet contains the minutes of the meetings of the Board and
all Committees and Savola’s Bylaws, CG Framework, monthly, quarterly and annual
financial reports, Board report, and documents related to the meetings of the Board and
Committees well before convening each meeting.
Additionally, the portal provides a platform for members to interact with one another and
state their opinions, or converse about and discuss any issues concerning Savola. There
is also a meeting organizer to support the members if they wish to benefit from this
service. The portal also provides the addresses of members of the Board and Executive
Management team. The portal is periodically updated by the Board Secretary, who could
referred to in case of any difficulty in signing in or browsing the portal, and he is
responsible for solving the problems that the members face while browsing the portal
either by telephone or by visiting the member's office, notifying the Company’s
management thereof, or assigning IT support to solve the matter.
Confidentiality
: All members are committed to maintaining the confidentiality of the
information provided by this portal and taking the necessary measures
.
13)
Resources and Authority
In discharging its oversight role, the Board is empowered to investigate any matter
brought to its attention with full access to all books, records, documents, facilities and
Savola Group’s Personnel Affairs. It shall also have the power to outsource to any third
party, auditor or consultant, or incur other expenses for this purpose, which Savola Group
shall pay. The Board may require any employee of Savola or its OpCos, Savola Group’s
outside legal counsel, external auditors or any Committee to meet with. Additionally, the
Board members shall be entitled to have Savola Group liability insurance on their behalf.
14)
Competencies and Duties of Executive Management (including Group
CEO)
The competencies and duties of the Executive Management shall include the following:
1)
Implementing Savola Group’s plans, policies, strategies and main objectives.
2)
Recommending the Company’s overall strategy and translating the strategic plan into
operations as well as recommending and implementing principal and interim business
plans, policies, investment mechanisms, financing, risk management and emergency
management plans.
3)
Presenting to the Board the periodic financial and non-financial progress reports in
light of strategic plans and objectives.
4)
Providing recommendations over the capital, organization and human resource
structures of the Company and submitting them to the Board for discussion and
approval.
5)
Managing human, physical and financial resources in the most appropriate form in
accordance with the objectives and strategies of Savola.
