The Managing Director is responsible for managing the company in accordance with the strategy, plans and policies approved by the Board. The Executive Directors and other key management personnel are responsible for the day-to-day management and administration of the Company. The Board has policies and procedures in place to assess the performance of the Executive Directors.
The role and responsibilities of the Board are listed in the Company’s Board Charter, which can be found under the Corporate Policies tab on the Company’s website at www.karoongas.com.au.
In addition to the above, matters expressly reserved to the Board are:
The Board believes that this is appropriate at this time given the level and complexity of transactions.
The Board is made up of a total of eight Directors consisting of a majority of independent Non-Executive Directors. The composition breakdown is five independent Non-Executive Directors (including the Chair), one Non-Executive Director and two Executive Directors.
The skills, experience and expertise relevant to the position of each Director, and term of office are detailed in the Directors and Management section of the website.
The composition of the Board is reviewed periodically, having regard to the current and future growth phase of the Company’s business.