Governance

The Board of Directors is committed to growing and protecting the value of the assets of the Company and at all times acting in the best interests of its shareholder and the wider stakeholders of the business.

The core activities of the Board of Directors are to:

Establish the overall strategy of the Company and oversee its execution

Review and monitor the appropriate corporate financing arrangements for the Company

Approve the financial statements and dividend policy of the Company

Identify and monitor the principal risks facing the business and ensure the implementation of appropriate and effective risk management and internal control systems

Review and approve the execution of asset acquisitions and divestments, annual budgets, major capital expenditure investments and material contracts

Set the corporate policies of the Company

Supervise performance and succession planning for the Company’s Executive Officers and members of the Board

Ensure integrity and continuity in the governance of the Company and compliance with appropriate laws and regulations

The main activities of the Board are undertaken in scheduled meetings that are timed to link with key events in the annual corporate calendar. Additional meetings and conference calls, as well as operational site visits, are carried out to consider specific matters that require decisions out with the usual schedule.

The Board delegates the authority for day-to-day management and operation of the business to the Chief Executive Officer and other Executive Officers of the Company. The Executive Officers and a number of key senior managers constitute Ithaca’s Senior Leadership Team, which is responsible for the execution of the Company’s strategy. The Senior Leadership Team meets weekly as part of monitoring the detailed performance of all aspects of the business and ensuring effective day-to-day management of business issues.