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Corporate Governance

Board Responsibilities

The Board acts on behalf of and is accountable to the shareholders and as such will seek to identify the expectations of the shareholders, as well as other regulatory and ethical expectations and obligations.

In addition, the Board is responsible for identifying areas of significant business risk and ensuring suitable arrangements are in place to manage those risks. The Board has implemented an appropriate plan to discharge these responsibilities.

The responsibility for managing the operation and administration of ETT is delegated by the Board to the CEO and the Executive team. The Board ensures that this team is appropriately qualified and experienced to discharge their responsibilities and has in place procedures to assess the performance of the CEO and the Executive team.

The Board is responsible for ensuring that management’s objectives and activities are aligned with the expectations of the shareholders and has a number of mechanisms in place to ensure this is achieved. In addition to the establishment of the committees referred to in this section, these mechanisms include the following:

  • Implementation of operating plans and budgets by management and the Board monitoring of progress against budget. This includes the establishment and monitoring of key performance indicators (both financial and non-financial) for all significant business processes; and
  • Procedures to allow Directors, in the furtherance of their duties, to seek independent professional advice at the company’s expense.

ETT has Share Trading and Ethical Behaviour policies in place that the Board and Staff must follow, and which includes a code of conduct and company values.