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Board process

The Board has the authority, and is accountable to shareholders, for ensuring that the company is appropriately managed and achieves the strategic objectives agreed by the Board. The Board discharges those responsibilities by supervising overall budgetary planning, treasury planning and scientific and commercial strategies. It has agreed a schedule of matters which are reserved for the Board or its committees.

The Board reviews the company's internal controls and risk management policies and approves its governance structure and code of ethics. The Board appraises and approves major financing, investment and contractual decisions in excess of defined thresholds. In addition to these items, the Board evaluates and monitors the performance of the group as a whole. This includes:

• engaging at Board meetings with the CEO, the other executive directors and members of the CET as appropriate, on the financial and operating performance of GlaxoSmithKline and external issues material to the group's prospects
• evaluating progress toward the achievement of the group's financial and business objectives and annual plans
• monitoring, through reports received directly or from various committees, the key significant risks facing the group.

The Board has overall responsibility for succession planning for the CEO and other executive directors.

The Board has given the CEO broad authority to operate the business of the group and the CEO is accountable for, and reports to the Board on business performance.

Board meetings
The Board meets approximately six times a year.

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