Role of Board and Executive Committee

MMG Limited is governed by a Board of nine directors, comprising three are Executive Directors, two are Non-executive directors and four are Independent Non-executive directors.

The Board formulates the overall strategies and policies for the company.

It is also responsible for ensuring the availability of adequate capital and managerial resources to implement the strategies adopted, the adequacy of systems of financial and internal control, and the conduct of business in conformity with applicable laws and regulations.

The Board meets regularly and with a majority of directors in person or through teleconference.

Role of Chairman and Chief Executive Officer

The roles of the Chairman of the Board and the CEO of the company are segregated to ensure their respective independence, accountability and responsibility.

The Chairman takes the lead in formulating overall strategies and policies of the company, ensures the effective performance by the Board of its functions, including compliance with good corporate governance practices and encourages and facilitates active contribution of directors in Board activities.

The Chairman also ensures that all directors are properly briefed on issues arising at Board meetings and have received adequate, complete and reliable information in a timely manner.

The CEO, supported by a management committee comprising Executive Directors and senior management (Executive Committee), is responsible for managing day-to-day operations of the Group and executing the strategies adopted by the Board.

The CEO is also accountable to the Board for the implementation of the company’s overall strategies, and coordination of overall business operations.

Executive Directors and Executive Committee

The Board has delegated the management of day-to-day operations of the company to the CEO and the Executive Committee.

The Executive Committee is also required to report regularly to the Board on corporate progress.

Non-Executive Directors

Non-Executive Directors (including the Independent Non-Executive Directors) provide a wide range of expertise and experience and bring independent judgement on issues relating to the company’s strategies, development, performance and risk management through their contribution at Board and committee meetings.

Independent Non-Executive Directors

Independent Non-Executive Directors serve the important function of ensuring and monitoring the basis for an effective corporate governance framework.

Their participation provides adequate checks and balances to safeguard the interests of the shareholders.

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