British American Tobacco Malaysia
The Company’s corporate governance structure has been built and enhanced based on the following principles and best practices, Malaysian Code on Corporate Governance (Revised 2007) (Malaysian Code); Main Market Listing Requirements of Bursa Malaysia Securities Berhad (Listing Requirements); Corporate Governance Guide: Toward Boardroom Excellence of Bursa Malaysia Securities Berhad (CG Guide); British American Tobacco Malaysia’s Code of Corporate Governance (BATM Code);
Standards of Business Conduct (Standards); Statement of Business Principles (Business Principles); and
Statement of Delegated Authorities.
These principles are reflected in the Standards of Business Conduct, which have been in place for many years and have recently been updated in order to ensure that they remain at the forefront of best business practice. Every Group company and every employee worldwide is expected to live up to them. In addition, the principles set out within the Statement of Business Principles are designed to help meet the expectations placed on the company by various stakeholders. Both documents are available from the Company Secretary and on batm.com.
PRINCIPLE 1
Establish clear roles and responsibilities: Role of chairman and CEO
There should be a clear division of the responsibilities at the head of the company between the running of the board and the executive responsibility for the running of the company’s business. No individual should have unfettered powers of decision. The roles of chairman and chief executive should not be exercised by the same individual. The division of responsibilities between the chairman and chief executive should be clearly established, set out in writing and agreed by the board. The Chairman and the Chief Executive are separate individuals (Datuk Mohamad Salim Bin Fateh Din - Chairman, Stefano Clini (effective