Ensuring Good Corporate Governance
To define how the Board will exercise its constitutional powers and responsibilities will be exercised and discharged, Colorpak has adopting a charter.
The charter states that the Board is responsible for the oversight and review of the management, administration and overall governance of Colorpak Limited, including:
- the protection of shareholders' interests;
- authorising policies and overseeing the strategic direction of Colorpak Limited;
- establishing goals for management and monitoring the achievement of these goals;
- allocation of resources and succession planning for senior executives; and
- engaging and reviewing the performance of the Managing Director.
The Charter requires the Board to:
- maintain good corporate governance standards;
- act honestly, fairly and diligently;
- act in accordance with laws and regulations;
- avoid or manage conflicts of interests;
- promote Colorpak Limited as a good corporate citizen; and
- achieve and maintain community respect.