PFI's Board of Directors is responsible for supervision of the overall affairs of the Company. The Board held 15 meetings during FY2007. To assist it in carrying out its duties, the Board has delegated certain authority to several committees. Overall attendance at Board meetings was more than 70 percent. Following the 11th Annual General Meeting, the Board consists of 12 directors including the Independent Director.In the interim between Annual General Meetings, the Board has the authority under the By-laws to increase or decrease the size of the Board and fill vacancies. PFI's Board of Directors has long adhered to governance principles designed to assure the continued vitality of the Board and excellence in the execution of its duties. |
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