Corporate Governance is the set of processes, customs, policies, laws and institutions affecting the way a corporation is directed, administered or controlled. Principal stakeholders are the stockholders, management and the board of directors. Other stakeholders include employees, suppliers, customers, banks and other lenders, regulators, and the community at large.
Terra Tech 's Board of Directors oversees the Chief Executive Officer and other senior management in the competent and ethical operation of Terra Tech on a day-to-day basis and assures that the long-term interests of shareholders are being served. To satisfy the Board's duties, directors are expected to take a proactive, focused approach to their positions, and set standards to ensure that Terra Tech is committed to business success through the maintenance of high standards of responsibility and ethics.
The Board has adopted the following committee charters and governance guidelines that, in conjunction with Terra Tech 's articles of incorporation and bylaws, form the governance framework for Terra Tech. The governance structure is designed to foster principled actions, effective decision-making and appropriate monitoring of both compliance and performance.