FORMAL BOARD CHARTER

The role of the destra Corporation Ltd Board is to bring an independent and objective view of the company’s decisions and to oversee the performance and activities of management. The full range of the Board’s responsibilities is extensive and includes:

Performance

• Ensuring the company’s long term viability and enhancing the financial position
• Formulating and overseeing implementation of the corporate strategy
• Approving the business plan, budget and corporate policies
• Agreeing the Key Performance Indicators (KPI’s)
• Monitoring/assessing performance of the company, the board itself, management and major projects
• Overseeing the risk management framework and monitoring business risks
• Monitoring developments in the industry and the operating environment

Compliance/ legal conformance

• Understanding and protecting the company’s financial position
• Requiring the monitoring legal and regulatory compliance including compliance with accounting standards, TPA, OH&S and environmental standards
• Approving annual accounts, annual report and other public documents/sensitive reports
• Approving and monitoring the progress of major capital expenditure, capital management and acquisitions and divestitures
• Ensuring an effective system of internal controls exists and is operating as expected

Overall operations

• Establishing the company’s vision, mission, values and ethical standards
• Delegating an appropriate level of authority to management
• Demonstrating corporate leadership
• Assuming responsibility for the relationship with CEO including his or her appointment, succession, performance assessment, remuneration and dismissal
• Overseeing aspects of the employment of the management team including remuneration, performance and succession planning
• Recommending auditors and new directors to shareholders
• Ensuring effective communication to shareholders and other stakeholders
• Crisis management

• Define the strategic direction and translate the strategic plan into the operations of the business;
• Assume the day to day running of the company and to ensure conformance with relevant laws and regulations;
• Develop, implement and manage the company’s risk management and internal control frameworks;
• Develop, implement and update policies and procedures;
• Be alert to relevant trends in the industry and the company’s operating environment;
• Provide information to the Board;
• Act as a conduit between the Board and the Company; and
• Manage the company’s human, physical and financial resources to achieve the company’s objectives

For more information, please download the Board and Management Charter PDF Document below: