Board of directors
The Board's role is to organise and direct the affairs of Aberdeen Group plc (the Company) and the Aberdeen (the Group) to maximise value for the benefit of shareholders, in accordance with the Company's constitution and all relevant laws, regulations and corporate governance standards.
The roles and responsibilities of the Board, collectively and for individual Directors, are set out in the Board Charter. The Charter comprises 3 parts with Part 1 identifying matters that are specifically reserved for decision by the Board:
Part 1 - Responsibilities and Matters Reserved for the Board
Part 2 - Roles and Responsibilities of Members of the Board
Part 3 - Terms of Reference of the Board Committees
The Aberdeen Group plc Board and its Committees meet regularly, operating to an agreed timetable of scheduled meetings. The Board has also established a formal procedure for holding unscheduled meetings when, exceptionally, decisions on matters specifically reserved for the Board need to be taken urgently.
The Directors determine the size of the Board. It currently comprises the Chairman, six non-executive Directors and two executive Directors.
The Board conducts an annual review of the independence of non-executive Directors to consider all issues relevant to their independence. Having considered the matter carefully, the Board is of the opinion that all the non-executive Directors are independent in character and judgement and that there are no relationships or circumstances that are likely to affect this.
All Directors must be elected by shareholders at the Annual General Meeting (AGM) following their appointment by the Board, and offer themselves for re-election at each AGM.