Division of Responsiblities
Posted 13.02.2015
The document outlines the distinct roles and responsibilities of the Chair and the Chief Executive within the Low Carbon Contracts Company Limited and Electricity Settlements Company Limited. It emphasizes the importance of clear leadership, governance, and communication in fulfilling the companies’ objectives. The Chair is tasked with ensuring the Board’s effectiveness and integrity, while the Chief Executive is accountable for the company’s overall strategy and operations. This division of responsibilities is crucial for maintaining high standards of corporate governance and successful business management.
- Chair’s Responsibilities: The Chair is responsible for the leadership and effectiveness of the Board, setting agendas, ensuring directors receive clear information, and fostering a culture of openness. The Chair also holds meetings with non-executive directors and oversees the Board’s performance evaluation.
- Chief Executive’s Accountabilities: The Chief Executive runs the company’s business within the authority limits delegated by the Board. This includes developing the company’s strategy, managing the executive team, and maintaining communication with the Chair and the Board.
- Governance and Compliance: Both roles involve promoting high standards of integrity, probity, and corporate governance. The Chair, with the Company Secretary’s assistance, ensures compliance with the UK Corporate Governance Code and other governance documents. The Chief Executive ensures compliance with the company’s governance documents, including the Framework Document and the Finance and Reporting Letter.
- Communication and Representation: The Chair is tasked with representing the company to various stakeholders and ensuring effective communication systems with the shareholder. The Chief Executive also represents the company and ensures compliance with press and media communication requirements.
Division of Responsibilities