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Directors’ Report
41
Management Committees
Executive Management Committee
The committee is composed of six members which include Chief Executive Officer, Chief Financial
Officer and Executive directors of each business group. Four meetings of the committee were held
during the year under the chairmanship of Chief Executive Officer and attended by all the members. The
committee considered following matters in their meetings:
Ensure smooth operations of the company and adequacy of operational, administrative and financial
controls
Reviews of segmental and overall budget of the company before its submission to the board.
Review of the results of operations, their analysis with the budget and forecast and to take
corrective action where necessary
Formulate and implementation of strategic plans of marketing, production, investments and to take
corrective and preventive measures for mitigation of risks and for seizing business opportunities
Review of major risks and challenges identified in the ERM process and to take appropriate measures
to counter those risks and challenges, status of implementation of compliance program and to take
appropriate action for any non compliance of the policies and procedures
Human resource management, related policies and procedures, people excellence, recruitment and
training, succession planning and discussion and resolution of current issues
Review and approval of changes in organization, necessary to meet the operational and marketing
challenges
The committee places before the board of directors all matters of significance and such matters which
are required to be approved by it under the law.