It would be better to checkout an appointed COB rather than a website!
How can you take PPHM corporate governance policy seriously when it still hasn't appointed a COB for close to two years?
Corporate governance
A Chairman is selected by a company's board to lead the board of directors, preside over meetings, and lead the board to consensus from the disparate points of view of its members. The chairman is the presiding director over the other directors on the board and is expected to be fair, a good listener, and a good communicator. [14]
In public companies, the role of the chairman of the board is distinct from that of the company's CEO or managing director.[15] This point has more recently been brought into focus after corporate governance shortcomings were observed in companies where the two roles are combined. It is believed that the separation of functions within the board of directors or in the structure of the supervisory board and management board would facilitate control over the workings of the company and increase the accountability of the CEO or chairman of the management board. [16]
In an attempt to inject transparency into the relationship between executive management and the board of directors as well as between management and the market or shareholders, the UK Cadbury Report was published in 1992. Its recommendations have been adopted to a greater or lesser extent by some countries within the European Union and the United States, as well as by the World Bank.
[edit] Chairman of the Board types
In the case of companies and similarly-organized bodies, there are generally two types of chairmen, non-executive and executive.
[edit] Non-executive
A non-executive Chairman of the Board is and does the following:[17]
A part-time officeholder who sits on and chairs the main board of a company.
Provides support and advice to a CEO.
This position usually entails fulfilling a similar function on a number of additional board committees, as well as being a political figurehead of the Company.
[edit] Executive
An executive Chairman of the Board is and does the following:[18]
A full-time officeholder who typically leads the board and also takes a hands-on role in the company's day-to-day management.
Helps the CEO to oversee all the operational aspects involved in running the company, which include project planning and development delivery, retail and leasing, sales, market research and many other areas within their extensive scope.
Has overall responsibility for the company which involves engineering and controlling the company's current growth in and future expansion into international markets.
In addition, oversees all projects' development activities and related businesses of the company, with the intention of generating financial returns for the shareholders and driving sustainable development.
The chairman often sets the style of leadership of the board which in turn filters down through the organization.
