Board Of Directors
The Board currently comprises seven (6) Directors, including four (4) independent, non-executive Directors.
The Board is assisted in the discharge of its responsibilities by a number of sub-committees. These committees are accountable to the Board, with the exception of the Management Committee which reports to the Chief Executive Officer.
The Audit Committee is chaired by Mr. Mark O’Donnell, an independent, non-executive Director. The Audit Committee assists the Board in the discharge of its duties relating to financial reporting to all stakeholders, compliance, risk management and the effectiveness of accounting and management information systems.
The Nominations Committee is chaired by the Chairman of the Board, Mr. Muna Hantuba. The Committee is tasked with the responsibility of considering appointments to the Board and making recommendations for approval by the Board.
Organisational Ethics and Business Integrity
The issue of good governance and ethical conduct is critical to counterparty and investor perceptions of a listed company. Chilanga Cement PLC strives to ensure that the Company’s integrity and professional conduct is beyond reproach at all times.
Executive Committee of Management
The Executive Committee of Management is empowered and responsible for implementing the strategies and policies determined by the Board, managing the business and affairs of the Company, prioritising the allocation of technical and human resources, and establishing best management practices.
The Company has established management reporting procedures which include the preparation of annual strategic plans and budgets. Actual results are reported monthly against approved budgets and revised forecasts and compared to the prior year.
The control systems are designed to safeguard the Company’s assets, maintain proper accounting records and ensure the reliability of management and financial information produced by the company.