Group governance
Our governance framework defines how direction is set, decisions are taken and responsibilities are exercised across our business.
Clear authority, direct oversight and accountable management
Xstreco operates through a compact leadership model in which Board oversight and executive responsibility are closely connected.
Defined mandates, approval processes and reporting requirements distinguish Group-level decisions from the day-to-day management of our business.
In brief
Board
Direction, principal corporate matters and management performance
Executive Management
Strategy implementation and day-to-day management of our business
Governance framework
Our framework connects collective Board responsibility with delegated executive authority and local operating accountability.
Board oversight
The Board sets our direction, considers principal corporate matters and oversees management performance.
Executive authority
Executive Management implements strategy and manages our financial, administrative and operating activities.
Operating accountability
Responsibilities are assigned to the executives and entities closest to the relevant activities, within our Group standards and reporting requirements.
Board responsibilities
The Board is collectively responsible for our governance, direction and continuing development.
Strategy
Reviewing and approving our strategic direction, development priorities and principal objectives.
Business plans and budgets
Considering operating plans, budgets, financing requirements and material changes to our priorities.
Major decisions
Reviewing significant investments, acquisitions, transactions, contractual commitments and changes to our Group structure.
Performance
Monitoring financial, technical, operating and organisational performance against approved priorities.
Risk and control
Overseeing principal business risks and the controls established to manage financial, operational, legal and compliance matters.
Conduct and standards
Setting expectations for ethical conduct, responsible business practices and compliance with our Group policies.
Defined executive responsibility
The Board delegates the management of our activities to Executive Management while retaining oversight of major decisions, performance and risk.
Group structureExecutive Management
Executive Management is responsible for implementing our strategy and managing our financial, administrative and operating activities. The same individuals currently serve in Board and executive capacities. Responsibilities are distinguished according to whether matters are considered as part of Board oversight or executive management.
Strategy implementation
Translating our approved priorities into operating plans, work programmes and management actions.
Financial and operating management
Preparing budgets, allocating resources and monitoring financial, technical and operating performance.
Risk and internal control
Maintaining appropriate controls, escalating material matters and ensuring that decisions remain within delegated authority.
Board reporting
Providing the Board with accurate, timely and sufficiently detailed information to support oversight and decision-making.
Governance in practice
We apply governance through the processes used to plan, approve, monitor and manage our activities.
Delegated authority
Management reporting
Material decisions
Risk management
Compliance
Records and accountability
Performance and responsibility considered together
Safety, environmental management, human rights and community matters form part of the information we consider in planning and oversight.
Sustainable development
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How governance is put into writing
Our Group policies set the standards of conduct expected across our activities, from ethical business practices to reporting.