2.4.11 Formal documentation of roles

There should be a formal statement of matters on which the full board's decision is necessary (i.e. this should not be lelt to management to decide and report on).1 In the same way the division of responsibilities between the chairman and the CEO should be clearly established, set out in writing and agreed by the board.2 These points of corporate governance should be included in the disclosures in the annual report.3