Composition
Consists of at least 4 INEDs
Major roles and functions
- To formulate nomination policy, and to lead the process of identifying and nominating candidates to stand for election by our shareholders or to fill casual vacancies
- To review the Board composition and diversity at least once annually and make recommendations on any proposed changes to the Board
- To consider the skills mix needed in respect of Government Appointed Directors and make recommendations to the Board
- To review the skills mix required in respect of Board Committees and make recommendations to the Board
- To assess the independence of Non-executive Directors and review their annual confirmations on their independence
- To regularly review the time required from a Director to perform his/her responsibilities
- To review the Board Diversity Policy and the progress on achieving the objectives set for implementing the policy
- To review succession planning for the Chairman, the Chief Executive and the senior management together with the Board
- To review the leadership needs and training of the Group and training and development of the Directors
- To oversee all matters relating to corporate governance
- To develop the procedures for the performance evaluation of the Board and Board Committees
Operating mode
Meet at least 3 times every year with additional meetings as the work demands
Nomination and Governance Committee Report
The work done during each year is summarised in the Nomination and Governance Committee Report as contained in the annual report