Growthpoint has a unitary board comprised of 15 directors - 12 non-executive directors of whom 9, including the Chairman, are independent and 3 executive directors. The Board’s gender imbalance was addressed by the board’s appointment on 4 November 2009 of Mrs Lynette Finlay and Mrs Mpume Nkabinde.
The board operates in terms of a written charter that sets out its terms of reference, overall purpose, responsibilities and authority, and governs matters such as board membership, meeting procedures and ethical conduct. Various board committees, each with formal terms of reference, assist the board in fulfilling its objectives.
The board’s role is to provide strategic direction and leadership, so as to promote shareholder value and to enhance the sustainability of the business, to the benefit of the company and all of its stakeholders. To ensure they act with independence and integrity, directors are required to abide by Growthpoint's code of ethics and policies promoting ethical behaviour. The directors annually declare their interests in contracts, in accordance with the requirements of the Companies Act.
The business experience of each of the executive and non-executive directors enables them individually and as a board to evaluate strategy, assess the company’s performance and at all times to act in Growthpoint’s best interests. Non-executive directors have unrestricted access to all company information and may meet with management without the presence of executive directors. To help them fulfil their responsibilities effectively, non-executive directors may also seek independent professional advice, which is paid for by the company. |