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EC World Real Estate Investment Trust ANNUAL REPORT 2016
Chairman and Chief Executive Officer
Principle 3:
Clear division of responsibilities between the Chairman of the Board and Chief Executive Officer of the Manager
Tomaintain an appropriate balance of power, increased accountability and greater capacity of the Board for independent
decision making, the roles and responsibilities of the Chairman and the CEO are held by separate individuals.
The non-executive Chairman, Mr Zhang Guobiao, is responsible for leadership of the Board and for creating the
conditions for overall effectiveness of the Board, Board Committees and individual Directors. This includes setting the
agenda of the Board in consultation with the CEO and promoting constructive engagement among the Directors as well
as between the Board and the CEO on strategic issues. The CEO, Mr Lai Hock Meng, has full executive responsibilities
over the business directions and operational decisions of ECW and is responsible for implementing ECW’s strategies
and policies and conducting ECW’s business.
The Chairman and the CEO are not immediate family members. The separation of the roles of the Chairman and the CEO
and the clarity of roles provide a healthy professional relationship between the Board and Management, and facilitate robust
deliberations on the business activities of ECW and the exchange of ideas and views to help shape the strategic process.
Board Membership
Principle 4:
Formal and transparent process for the appointment and re-appointment of directors to the Board
The Board has established a NRC to make recommendations to the Board on all Director appointments and related
matters including reviewing the structure, size and composition of the Board, reviews the independence of Directors,
reviews the training and professional development programme for the Board and reviewing the performance and
independence of Board members. The NRC seeks to ensure that the composition of the Board provides an appropriate
balance and diversity of skills, experience and knowledge of the industry and that the Directors, as a group, have the
necessary core competencies relevant to ECW’s business.
The NRC comprises four NEDs, a majority of whom are independent, namely:
Mr Li Guosheng (Non-Executive Director)
Chairman
Mr Chan Heng Wing (Independent Non-Executive Director and Lead Independent Director)
Member
Mr Chia Yew Boon (Independent Non-Executive Director)
Member
Mr Zhang Guobiao (Independent Non-Executive Director)
Member
The NRC has adopted a process for selecting, appointing and re-appointing Directors and reviewing the performance
of Directors and Board Committees.
(a) The NRC will at least annually carry out a review of the Board composition as well as on each occasion when an
existing Director gives notice of his intention to retire or resign. This is to assess the collective skills, knowledge
and experience of Directors represented on the Board to determine whether the Board, as a whole, has the skills,
knowledge and experience required to achieve the Manager’s objectives for ECW.
Corporate
Governance