The Board of Directors holds five ordinary meetings a year (February/March, May, August, November and December). In February/March, the Board closes the financial statements for the previous financial year. At the May meeting, it closes the financial statements for the first quarter, reviews first-half performance and approves the strategic priorities for each business and for the Group as a whole. In August, it closes the financial statements for the first half. In November, it closes the financial statements for the first nine months and reviews the Group’s estimated sales and earnings for the past year and the outlook for the year to come. In December, it approves the business plans for the three forthcoming years and the financing policy for each business and the Group as a whole.
Other Board meetings are held as the Group’s business requires.
The rules of procedure outline the duties and responsibilities of the Board of Directors.
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(*) Independent director
|Chairman of the Board of Directors|
(Updated: November 2013)