The board

Board Accountability

Our board operates in terms of a written charter that governs matters such as board membership, meeting procedures and ethical conduct. The board (either itself or through the Nomination Committee) regularly reviews its composition relative to skills, expertise and experience needed to provide strategic direction and leadership, as well as representivity in terms of gender and race. New directors are orientated with the charter as part of their induction. The non-executive directors are independent of management and the majority are free from relationships that could affect their judgement as directors. The Board is accountable to the company, and its shareholders, but is always cognisant of stakeholder expectations and interests. In decision making, the Board adopts an inclusive approach to governance. In May 2013, the Board, along with the Audit, Risk Management, Social, Ethics & Transformation and Property Committees, conducted formal self-assessments. The overall outcome was positive, and feedback was provided to the Board and committees in August 2013. The results of these assessments are available to the external auditors on request.

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