SEO Version
FORTERRA
ANNUAL REPORT 2013
CORPORATE GOVERNANCE
REPORT
43
The Board’s annual determination of each director’s independence for FY 2013 can be found under
“Principle 2: Board Composition and Guidance” of this Report.
Key information on each director can be found in the section on ‘Trustee-Manager’s Board of Directors’
in the Annual Report.
Principle 5: Board Performance
The Board believes that the Board’s performance is ultimately reflected in the performance of Forterra.
With the constitution of the Nominating Committee, the Nominating Committee will be responsible for
undertaking an annual assessment of the performance of the Board moving forward.
For FY2013, the Board conducted an annual assessment to determine whether the Board and the Board
Committees, as well as each director, is performing effectively and to identify steps for improvement.
To assist the Board in its evaluation, each director submits his written assessment of the effectiveness
of the Board, the directors, the Board Committees, and the Chairman. This exercise is aimed at giving
the directors an opportunity to gauge their effectiveness individually and collectively as a Board. It
also helps to ensure continual improvement in the Board’s decision-making process as it provides a
benchmark by which future performance can be measured and highlights any issues that will form the
basis of future Board discussions. Based on the information provided by each director, a consolidated
report is prepared and presented to the Board.
Following such review for FY 2013, the Board is of the view that all the directors, the Board and Board
Committees operated effectively.
Principle 6: Access to Information
Management provides the Board and Board Committees with relevant, and accurate information in a
timely manner.
As a general rule, notices of meetings, setting out the agenda and supporting papers providing the
background information such as the analysis, financial impact, expected benefits, risk analysis and
mitigation measures, implications and recommendations, are sent to the directors at least one (1) week
prior to meetings. Papers on particularly sensitive matters, however, may be tabled at the meeting itself
and the Chairman may also separately brief the directors individually prior to the meeting. Management
staff, the auditors and professional advisers, who can provide additional insight into the matters for
discussion, are also invited to attend the meetings.
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