Meredith's Board of Directors has four standing committees who meet regularly to discuss and decide key issues that affect the company and its operations. The committees and their responsibilities include:
Audit Committee
(Composed entirely of independent directors)
- Review the scope of all audits to be performed by outside auditors.
- Review the results of the annual audit prior to publication in the annual report.
- Meet with Director of Internal Audit to determine its responsibilities.
- Review compliance with Corporate Code of Business Conduct.
- Provide additional guidance and assistance to make sure financial reports are complete and accurate.
Compensation Committee
- Review and approve corporate officer compensation.
- Review and approve corporate salary administration plans and programs.
- Review all employee benefit plans.
- Review annually the performance of the CEO.
Nominating/Governance Committee
- Serve as nominating committee to recommend new members to the Board.
- Reviews committee structure.
- Leads annual Board self-evaluation.
- Reviews corporate governance guidelines.
Finance Committee
- Review and approve corporate financial policies and procedures.
- Provide financial advice and counsel to management.
- Formulate the dividend policy and make recommendations to the Board.
- Supervise corporate investment portfolios.
- Review specific financing plans.
- Consider and approve significant capital requests brought forth by management (for instance, new building projects).
- Review and approve operating budgets.
- Review and approve pension plans and performance of funds.
- Monitor pension plan administration and benefit levels.
