The BT Group plc Board is ultimately responsible for the strategy and overseeing the performance of the BT Group. Its focus is:
Strategic
Developmental
International
Growing shareholder value
Oversight and control
Corporate governance
In support of this focus the following matters are reserved for the Board to approve or monitor:
Vision, Mission, Values, Ethics and Business Practice
Strategic Plans, as proposed by the Operating Committee
Group Annual Budget
Capital Expenditure and Investments budgets and any changes which result in aggregate expenditure or aggregate outstanding commitments being exceeded
Capital expenditure projects over £100m
Investments (i.e. acquisitions, disposals including assets or business activities, outsourcing arrangements) with a consideration/value over £100m (together with additional funding if such additional funding would result in the revised aggregate additional funding being over £100m since the previous funding authority from the Board) or where of major strategic importance or on the request of the CEO or Finance Director
Customer contracts, bids and tenders of major strategic importance or which are referred at the discretion of the CEO
Proposals involving another company acquiring any interest in BT Group plc
Any issues of major strategic importance to the Group
Dividends
Financing Policy and Annual Financing Programme
External financing by issue of equity or rights to equity including quoted debt securities by BT Group plc or any subsidiary
Pensions policy, funding and material matters in relation to accounting reporting and industrial/employee relations
Appointment of the Pension Fund Trustees and of Hermes
Appointment, removal and remuneration of external auditors for BT Group plc
Appointment or removal of Directors and the Secretary
Operating and financial performance
Major changes to accounting practices
Internal controls
Compliance (securities, legal and regulatory)
Major public policy issues including matters which would have a significant impact on the Group's reputation
Share Dealing Code compliance
Policy for Directors' & Officers' insurance and indemnity
Political donations policy
Powers reserved to senior management
Composition and terms of reference of Board Committees
Necessary shareholder communications, including e.g. Annual Report
New employee share schemes and major changes to existing schemes other than those which do not require shareholder approval
Major changes to pension provision and pensions funding
Community Support policy
