Corporate Governance

CBio has implemented a corporate governance framework consistent with the 2nd edition of the ASX Corporate Governance Principles and Recommendations for listed companies, to better protect the interests of shareholders.

Role of the Board
The Board is responsible for the corporate governance of the business and has adopted as a guiding principle that it act honestly, conscientiously and fairly, in accordance with the law and in the interests of CBio’s Shareholders (with a view to building sustainable value for them), employees and other stakeholders. Responsibility for the operational conduct of the Company’s business has been delegated to the Chief Executive Officer who reports to the Board. The Board’s broad function is to: a) chart strategy and set financial targets for the Company; b) monitor the implementation and execution of strategy; c) monitor performance against financial targets; d) appoint and oversee the performance of executive management; and e) generally take and fulfill an effective leadership role in relation to the Company.

Power and authority in certain areas is specifically reserved to the Board – consistent with its function as
outlined above. These areas include: a) composition of the Board itself including appointment and removal of Directors; b) oversight of the Company including its control and accountability systems; c) appointing and removing the CEO; d) appointing the Company Secretary and ratifying changes to senior management; e) reviewing and overseeing systems of risk management and internal compliance and control, codes conduct, and legal and regulatory compliance; f) monitoring senior management’s performance and implementation of strategy; g) approving and monitoring financial and other reporting; h) overall corporate governance of CBio including the strategic direction, establishing goals for management and monitoring the achievement of these goals; and i) oversight of Committees.