26
Wisynco Group Limited - 2020 Annual Report
Corporate Governance The Board
T
he Board of Directors (“the Board” or “the Directors”) of Wisynco Group Limited (“Wisynco” or “the Company”) is tasked with creating and improving shareholder value, including the responsibility to create strategic objectives and to develop and monitor the frameworks that will guide the Company towards achieving these objectives. The Board monitors and evaluates financial reporting, and facilitates the monitoring of operations that have the potential to impact profit trends. Board meetings also address the goals and strategies for the operations, significant acquisitions and investments, as well as matters relating to the capital structure. Senior executives report business plans and strategic issues to the Board on an ongoing basis. The Board, with the assistance of its Audit & Risk and Compensation & Corporate Governance Committees, is continuously reviewing and developing internal policies and guidance to ensure that the Company is following both local and international best practices.
Board proceedings during the year During the Financial Year, four (4) Meetings were held. The Board addressed key strategic issues related to opportunities within new markets, diversification within current markets and key environmental issues. The executive management of all business areas presented their goals and strategies for the year ending June 2020. The Board also addressed matters related to human resources, environmental matters, health and safety, and issues concerning investments and the review of previously made investments, as well as future acquisitions, divestments and capital projects.
Composition of the Board At June 30, 2020 the Board comprised nine (9) Directors, of which five (5) are Executive Directors (including the Chairman and CEO) and four (4) are Non-Executive, Independent Directors. A person who is independent of the Company is someone who is free of any interest, position, association or relationship and who is not an employee of the Company or any affiliated entity. Such a person should Continued on page 28
To view Wisynco’s Corporate Governance Guidelines, please visit www.wisynco.com under the “Corporate” tab, select “Investor Relations”.
