Chief Executive Officer
Purpose
This position description describes the appointment, role and responsibilities of the chief executive officer (the “CEO”) of the board of directors (the “Board”) of Pacgen Biopharmaceuticals Corporation (the “Corporation”). It should be read together with the written mandate of the Board (the “Mandate”) and the position description of the chairman of the Board (the “Chairman”), as such documents may be amended from time to time.
Office of the Chief Executive Officer
The Board will appoint the CEO on terms and conditions that it considers appropriate. The CEO will report to the Board.
Responsibilities of the Chief Executive Officer
General
The CEO will have full responsibility for the day-to-day operation of the Corporation’s business in accordance with the Corporation’s strategic plan, current year operating and capital expenditure budgets and policies as previously approved by the Board.
Relationship with Chairman
The CEO will consult with the Chairman on matters of strategic significance to the Corporation.
Specific Responsibilities
In discharging his responsibility for the day-to-day operation of the Corporation’s business, subject always to the oversight by the Board, the CEO will:
- foster a corporate culture that promotes ethical practices and encourages individual integrity;
- maintain a positive and ethical work climate that is conducive to attracting, retaining and motivating top-quality employees at all levels;
- work with the Chairman in determining the matters and materials that should be presented to the Board;
- develop and recommend to the Board a long-term strategy and vision for the Corporation that leads to enhancement of shareholder value;
- develop and recommend to the Board annual business plans and budgets that support the Corporation’s long-term strategy;
- ensure that the day-to-day business affairs of the Corporation are appropriately managed;
- consistently strive to achieve the Corporation’s financial and operating goals and objectives;
- promote continuous improvement in the quality and value of the Corporation’s products;
- seek to secure for the Corporation a satisfactory competitive position within its industry;
- ensure that the Corporation has an effective management team below the level of the CEO and has an active plan for management development and succession;
- work with the Board to establish corporate goals and objectives on an annual basis;
- ensure, in cooperation with the Chairman, that there is an effective succession plan in place for the position of CEO; and
- serve as the spokesperson for the Corporation.
Information Flow to the Board
The CEO will ensure the delivery of information to directors on a timely basis to keep the directors fully apprised of all matters which are material to directors at all times. The CEO will alert the Chairman on a timely basis of any material changes or events that may impact upon the risk profile, financial affairs or performance of the Corporation.
The CEO will coordinate with the Chairman to ensure that information requested by any director is provided and meets the needs of that director.