Company: BWNB
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001104659-25-034242
Chunk: 16

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 16
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 business and enterprise risks, including cybersecurity and ESG risks; • reviewing and approving our key financial objectives, strategic and operating plans, and other significant actions; • overseeing the processes for maintaining the integrity of our financial statements and other public disclosures, and our compliance with law and ethics; • evaluating CEO and senior management performance and determines executive compensation; • planning for CEO succession and monitoring management’s succession planning for other key executive officers; and • establishing our governance structure, including appropriate board composition and planning for board succession. The Board does not have a policy requiring either that the positions of Chairman and Chief Executive Officer should be separate or that they should be occupied by the same individual. The Board believes that this issue is properly addressed as part of the succession planning process and that it is in our best interests for the Board to make a determination on these matters when it elects a new Chief Executive Officer or Chairman of the Board or at other times consideration is warranted by circumstances. We currently have Mr. Young serving as our Chief Executive Officer and as our Chairman. Pursuant to our Corporate Governance Principles, in the event the Chairman of the Board is not an independent director, the independent directors will annually appoint a Lead Independent Director with such responsibilities as the Board shall determine from time to time. If appointed, the Lead Independent Director has the following responsibilities: • presides over all Board meetings at which the Chairman of the Board is not present and all executive sessions attended only by independent directors; • serves as liaison between the independent directors and the Chairman of the Board and Chief Executive Officer (including advising the Chairman of the Board and Chief Executive Officer of discussions held during executive sessions of the non-employee and independent directors, as appropriate); • reviews and approves the Board meeting agendas and meeting schedules to ensure that there is sufficient time for discussion of all agenda items; • advises the Chairman of the Board and Chief Executive Officer regarding the quality, quantity and timeliness of information sent by management to the directors; • has the authority to call meetings of the independent directors; and • ensures that he or she is available for consultation and direct communication, as appropriate. Because the Chairman is not an independent director, the Board has designated Mr. Howe as Lead Independent Director. The Board believes that this leadership structure is appropriate for us at this time because it provides our Chairman with readily-available resources to manage the affairs of the Board. Our Chairman and Chief Executive Officer ensure that the views of the Board are taken into account as management carries out the business of the Company and vice-versa. Our independent directors, led