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| | Accountability
The Board, together with the President and CEO, has enacted specific guidelines defining the scope of duties and expectations of the Board, the Board Committees and those of management. These policies include specific quantitative limits and criteria that outline decisions requiring prior approval of the Board.
Specifically, the Corporate Governance and Nominating Committee is responsible for:
- Overseeing Manulife’s corporate governance policies, practices and procedures;
- Conducting regular effectiveness reviews of the Board, the Board Committees, the Chairman and individual Directors;
- Developing and revising job descriptions for the Chairman, the CEO and individual Directors; and
- Conducting a thorough annual performance review of the CEO. The Board also works with him as he sets his objectives for the coming year. These must then be approved by the full Board. The CEO’s performance is evaluated relative to these objectives, and to Manulife’s overall performance for its shareholders.
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