The board serves several functions, including overseeing the business and financial strategies and risk appetite of the company; evaluating, providing counsel on and authorizing major corporate actions; promoting honest and ethical business practices and conduct, sound corporate governance, sound risk management, full, fair and timely public disclosure, and avoidance of conflicts of interest; approving the financial statements and the program for compliance with the law; evaluating the performance of the CEO and overseeing CEO succession planning; approving the incentive compensation arrangements for senior executives; providing advice on the selection of senior management and overseeing management development; periodically reviewing the alignment of the company’s culture with the company’s strategy and long-term objectives; and monitoring the company’s material activities and practices regarding ESG matters.