 We are talking about the different stakeholders and now we talk about a very important stakeholder who are the directors and corporate management structure. So, it is very important to understand the role of directors and also the corporate management structure and nowadays we also have the director programs whereby institutions like the Social like the Securities Exchange Commission of Pakistan are actually educating and conducting very comprehensive structured workshops for the directors so that they can understand their responsibilities and carry them out in a better way. Now when we look at the corporate management structure, the board is expected to lay down policies, procedures and programs for securing the implementation of policies under their guidance and continuous supervision and communicating the decision to the rest of the staff, the board appoints CEOs for the company. So, what we see is that whatever policies, procedures and programs are finalized by the board, they have the chief executive officer and his team which usually are called C-suite officers that means they are different chief officers, they could be a chief financial officer, chief operating officer, chief information officer, chief human resource officer, they could be a chief knowledge officer, chief training officer. So, all of these different chief officers are a part of the core team of the chief executive officer and the chief executive officer is appointed by the board and what they do is that they secure the implementation of the different policies under the guidance and supervision of the BOD and also ensure that the decisions of the board of directors is communicated to all of the staff and everyone works within that particular ambit and within that particular framework without transgressing those policies and procedures which would ensure a more homogenized and more standardized approach of management within the corporation and that is the essence of the corporate management structure. The chief executive serve as a link between the board of directors on one side and the operating organization of the other and therefore they act as a bridge, their work consists of interpreting the policy decisions for the benefit of those responsible for the execution and dealing on a day to day basis of the problems of the business operation. That is very important and that also ensures that the organization works in a better way and therefore the chief executive officer has a very pivotal role not only acting as a bridge but also ensuring that the operations of the organization are executed and implemented in the best possible way by all of the different stakeholders and by all of the different employees and thereby contribute to the well-being towards the profitability towards the optimization of that particular organization. Now when we look at this particular structure over here this is a very important structure because this is the corporate management structure on one side you see that they are the shareholders who elect the board of directors and those board of directors then through a proper merit oriented transparent framework or methodology then appoint the chief executive officers and senior executive executives which I was basically mentioning as the C officers the chief officers of the organization they are appointed by the board of directors. Now they the board of directors then form executive committees and a very important executive committee is the HR committee and what we see is that this HR committee then tends to interface with all of the employees and in that interfacing what we see is that these executive committees then tend to regulate the different things. So they could be a financial executive committee they could be HR executive committee they could be an operational executive committee they could be a knowledge executive committee so those executive committees are formed by the board of directors and usually what we see is that there are one or two board of directors in each committee and sometimes they also have different experts which join in with them to ensure that the company works in a better way. So this corporate management structure is very important and it has to be practiced in its very essence to ensure better results. Now Lord Crainworth basically mentioned about the company director that the directors are a body to whom is delegated the duty of managing the general affairs of the company a corporate body can only act by agents and it is of course the duty of those agents to act as best to promote the interests of the corporation whose affairs they are conducting. So again the ultimate responsibility is with the board and the board is constituted by the different company directors and they have to ensure as agents of all of the shareholders that everything done is done properly it is done transparently it is done to integrity and the best practices are followed and the company is not compromised in any possible way and that is the duty of all of the directors. Now when we look at the company's act of 2017 then it defines the director as a director including any person occupying the position of director by whatever name called and it is very important because different responsibilities are assigned to the director and the directors are at the senior most level and above the chief executive officer of that particular company along with responsibilities powers of the director holds determine the way it can function in a corporate management structure a director may be defined as a person having control over the direction the conduct management and superintendents of the affairs of the company. So the directors have an overarching role and it is their responsibility they cannot they cannot sleep and say that okay we basically don't want to be responsible they are ultimately responsible either they take the responsibility or don't take the responsibility but the responsibility ends with them and therefore the board is a very important organization which is elected by the shareholders and therefore they carry that responsibility on their shoulders and have to ensure proper good governance and proper management through whatever structure that they tend to create and therefore the the supra management structure of an organization and the board of directors basically go glove in hand and they move forward through a very judicious and through a very professional and through a very meticulous article approach of management to make the company basically grow in a better way. So that is the very essence of the corporate management system and also of the role of the director. Thank you so much.