Board Strategic Issues Committee Report

Composition of the Strategic Issues Committee of the Board

The Board appointed Strategic Issues Committee comprised of seven (7) Board members and the Chairman of the Committee was an Independent Director as set out below. Other Board members and Management of the Bank may be present at the meetings by invitation.

Chairman
Mr Hemaka Amarasuriya was the Chairman of the Committee until his retirement on 30 November 2013

Present Chairman
Mr Sunil G Wijesinha

Members
Mr Ashok Pathirage
Mr Trevine Jayasekara
Ms Kimarli Fernando
Mr Sarath Wikramanayake
Mr Sujeewa Rajapakse
Mr Anura Siriwardena

Brief profiles of each member are given on 'Board of Directors' section.

Charter of the Board Strategic Issues Committee

The Committee is responsible for determining the following decisions:

  1. Approving of all strategic investments and divestments and recommending the same to the Board.
  2. Approving the periodical strategic plan (covering 3-5 years or more) and recommending the same to the Board.
  3. Approving any significant amendments to the existing strategic plan and recommending the same to the Board.

The Committee additionally carries out the following duties and responsibilities:

  1. Providing the strategic direction and strategic thinking of the Board to the management in the development and implementation of the Bank’s strategic plan.
  2. Developing the Bank’s strategy and its implementation together with the management.
  3. Reviewing and assessing the formulation and implementation of strategic plans developed by the management and approved by the Board.
  4. Guiding and assisting the management in implementing strategic decisions taken by the Board.
  5. Reviewing and evaluating strategic issues and plans of the group companies of the Bank to ensure that the same are in line with the strategic initiatives and strategic direction of the Bank.

Board Strategic Issues Committee Meetings

The Committee meets as and when necessary. The quorum for a meeting is four (4) members of whom a minimum of two Directors shall be independent.

The proceedings of the Committee are reported to the Board of Directors subsequent to the conclusion of the meetings.

 

Sunil G Wijesinha
Chairman - Board Strategic Issues Committee

13 February 2014