ITC’s Corporate Governance processes
are designed to support effective management of multiple businesses while retaining focus
on each one of them.
The practice of Corporate Governance
in ITC takes place at three interlinked levels:
| 1 Strategic supervision |
by the Board of Directors |
| 2 Strategic management |
by the Corporate Management Committee |
| 3
Executive management |
by the Divisional/Strategic
Business Unit (SBU) Chief Executives assisted by the respective Divisional/SBU Management
Committees. |
The Corporate functions provide support and
assistance to both the Corporate and Divisional Management Committees.
This three-tier governance structure ensures that:
Strategic supervision (on behalf of the
shareholders), being free from involvement in the task of strategic management of the
Company, can be conducted by the Board with objectivity, thereby sharpening accountability
of management;
Strategic management of the Company,
uncluttered by the day-to-day tasks of executive management, remains focused and
energised;
Executive management of a Division or a
Business, free from collective strategic responsibilities for ITC as a whole, focuses on
enhancing the quality, efficiency and effectiveness of the business.
|
|
