Board Responsibilities

The Board has the ultimate responsibility for managing Coca-Cola Amatil’s business and affairs to the highest standards of corporate governance and business conduct. The Board’s responsibilities are established to ensure:

• the strategic guidance of the Company
• the effective monitoring of management by the Board, and
• the Board’s accountability to the Company and its shareholders.

Responsibilities

1. the strategic direction of the Company,
2. approving budgets and other performance indicators, reviewing performance against them and initiating corrective action when required,
3. ensuring compliance with applicable laws,
4. ensuring that there are adequate systems and procedures to identify, assess and manage risks,
5. ensuring that there are appropriate policies in place and systems to ensure compliance,
6. ensuring that the Board structure and composition is effective,
7. fostering an appropriate corporate culture,
8. appointing the Chief Executive Officer (CEO) and evaluating his or her ongoing performance against predetermined criteria,
9. approving the remuneration of the CEO and remuneration policy and succession plans for the CEO and senior management, and
10. ensuring that there is an appropriate focus on the interests of all stakeholders.
    

Delegation

The Board operates on the principle that all significant matters are dealt with by the full Board.  To assist in its deliberations, the Board has established a number of committees which, apart from routine matters, act primarily in a review or advisory capacity.  The delegate of such responsibilities to those committees will only occur provided that sufficient systems are in place to ensure that the Board is meeting its responsibilities.