The Board is committed to achieving the highest standards of corporate governance and ethics and expects similar standards from all employees. The Board sets the strategic direction for the Group and meets quarterly or as required. All matters pertinent to the Group are discussed by the full Board including but not limited to, the operations and financial performance of the Group and achievement of objectives.
The Board consists of not less than five or more than ten members, all non–executive Directors. The members of the Board seek to ensure that it contains a blend of experience and skills appropriate to the Group. Directors retire by rotation every three years and are eligible for re-election.
The Board has two committees, the Nomination and Remuneration Committee and the Audit and Risk Committee.
A Nomination and Remuneration Committee of four non-executive Directors meets quarterly to consider issues pertaining to the appointment of new Directors and senior management. The committee also assists the board in developing the human resources and remuneration strategies for the Group.
An Audit and Risk Committee of three non-executive Directors meets quarterly in order to confirm that any matters raised by the Group’s external auditors are addressed and to confirm that the Group’s financial affairs are conducted in accordance with prudent commercial practice, the requirements of the Group Procedures Manual and the prudential standards issued by the Regulatory Authorities in the countries in which the Group operates.
Directors are entitled to seek independent legal advice on their duties at the Group’s expense, provided that they seek the prior approval of the Chairman.
The board is committed to identifying significant business risks and has put in place a number of measures to manage such risks.
The Board communicates with shareholders at least once a year by means of a comprehensive annual report. In addition, the Board provides shareholders with continuous disclosure of information considered to be price sensitive to the Group’s shares. At all times the Board ensures that statutory requirements regarding disclosure are met.
The Group is an equal opportunity employer and does not tolerate sexual harassment towards employees. The Group also values its human capital and encourages in- house mentoring and up skilling of its employees as a capacity building tool. Workplace health safety for the Group is an important issue and adequate policies and guidelines are in place.
Policy and Procedures
The Group has in place both Staff and Procedure Manuals, which set out duties for each staff member and systems for all procedures.
All routine legal documents are standard and used in all instances.
Standing L to R: Peter Dixon (Acting CEO); Graham John Dunlop, Professor Albert Mellam, David Doig, Sir Wilson Kamit, Abigail Chang, Allan Marlin. Absent: Faye-Zina Lalo