The Company aims to have a diverse Board of Directors and Executive Committee.  This is achieved when including amongst its members differences in background, age, gender, independence, experience and professional skills.  The Company believes that teams consisting of individuals with different experiences and backgrounds will lead to diversity of thought, which is to key to well-performing governance bodies.  Such diversity will provide a range of perspectives, insights and challenges necessary to support good decision making.  Enhancing diversity at the board and management level also increases the pool of potential candidates, and helps to attract and retain talent. 

The Nomination Committee reviews and assesses the composition of the Board of Directors and the Executive Committee, and recommends to the Board the appointment of new directors or Executive Committee members, as well as the renewal of any existing mandates.  When carrying out these reviews and recommendations, the Nomination Committee will consider the candidates on merit, having due regard to the benefits of diversity (including criteria such as background, age, gender, independence (for board members), professional skills, length of service and differences both in professional and personal experiences).    

On gender diversity, the Board of Directors had a specific objective, in accordance with legal requirements, to include a minimum of one third of the underrepresented gender on the Board[1].  This target was achieved on 31 May 2018 with the nomination of two new female administrators.  The Board is currently composed of 12 members, including four female board members. 

Reference is made to section 1 of the Corporate Governance Statement (available in the Financial and Director’s report) regarding other diversity criteria (age, length of service, educational and professional experience) in relation to the members of the Board of directors and the Executive Committee as of 31 December 2018.


[1] The required minimum number will be rounded off to the nearest whole number.