Executive Committee
The Executive Committee, which may consist of between two and six members, holds the day-to-day responsibility for the group’s operations and is appointed by the Board. The current age limit for members of the Executive Committee is 70. The Executive Committee holds formal meetings once a week. According to the order of business, the Executive Committee must ensure that the following issues are discussed at least once a year at a Board meeting:
• Assessment of internal control functions, including IT security
• Securing of capital resources, book-keeping, asset management and accounting
• Establishment of risk management systems, including insurance issues and currency management
• Review and updating of the order of business
• The Corporate Governance policy and internal regulations
• Preparing budgets, three-year plans and perspectives
The Executive Committee is supported by a number of corporate functions, consisting of a range of joint staff and service functions, including: Communications & Reputation Management, Accounts and Finance, Legal, M&A, Strategy and Business Development, Risk Management and HR.