아프리카ㆍ중동

According to good practice, the board of directors of any company, including a SEP, plays a central function in the governance of that company. Because the professional board bears the ultimate responsibility for the stewardship and performance of the company, its composition and functioning have a significant impact on the governance of the company and therefore on its operational and financial performance. The Board is usually responsible for approving the SEP strategy and budget, setting performance objectives, selecting the CEO and other senior executives, among other roles. An effective board must comprise highly qualified and competent directors capable of exercising objective, independent judgment to guide strategy development and monitor management. The board, company executives, and external stakeholders must share a proper understanding of the role and responsibilities of the board to ensure that the board has appropriate autonomy, authority, accountability, and ability in exercising its functions. Moreover, an effective board follows operating practices, such as creating board committees and providing specialized training and evaluation for directors, that improve board functioning and decision making. These Guidelines provide a framework for improving the effectiveness of SEP Boards in Zimbabwe. They recognize the central function of good corporate governance and that an effective professional board bears the ultimate responsibility for stewardship and performance of the SEP. The Guidelines also recognize the importance of the composition and functioning of a professional board and that an effective board is one that relies on qualified and competent directors, capable of exercising objective and independent judgement to guide strategy development and monitor management.