The board of directors and management of the Company believe in the importance of, and are committed to, sound corporate governance practices for the effective management of the Company, and for the protection of its stakeholders.
Corporate governance is the set of processes, policies, laws and
institutions affecting the way a corporation is directed, administered
or controlled. Corporate governance also includes the relationships
among the many stakeholders involved and the goals for which the Company
is governed.
Management has the responsibility for the day to day management of the
business of the Company. The board of directors retains responsibility
for significant matters and has ultimate oversight for adoption of the
Company's strategic planning process and is kept informed of the
Company's operations at board and committee meetings as well as through
reports and discussions with management.