Nominating Committee

 

 

Objective
 

The primary objective of the Nominating Committee (NC) is to establish a documented, formal and transparent procedure for the appointment of Directors, President/Group Managing Director and key Senior Executives (Vice President who is also a Head of Function and above) and to assess the effectiveness of individual Directors, the Board as a whole and the various committees of the Board, President/Group Managing Director and key Senior Executives (Vice President who is also a Head of Function and above).

 

 

Roles and Responsibilities

The functions and responsibilities of the NC are as follows:
 

•

Establishing minimum requirements for the Board and the President/Group Managing Director to perform their responsibilities effectively. It is also responsible for overseeing the overall composition of the Board in terms of the appropriate size and skills, the balance between Executive Directors, Non-Executive and Independent Directors, and mix of skills and other core competencies required through annual reviews.

•

Recommending and assessing the nominees for directorship, the Directors to fill board committees, as well as nominees for the President/Group Managing Director position. This includes assessing Directors and the President/Group Managing Director proposed for reappointment, before an application for verification is submitted to Bank Negara Malaysia.

•

Establishing a mechanism for formal assessment and assessing the effectiveness of the Board as a whole, the contribution by each Director to the effectiveness of the Board, the contribution of the Board's various committees and the performance of the President/Group Managing Director.

•

Recommending to the Board on removal of a President/Group Managing Director if he is ineffective, errant or negligent in discharging his responsibilities.

•

Ensuring that all Directors undergo appropriate induction programmes and received continuous training.

•

Overseeing appointment and management succession planning of key senior executives (Vice President who is also a Head of Function and above), and performance evaluation of Senior Vice President, Chief Operating Officer and President/Group Managing Director and recommending to the Board the removal of key Senior Executives (Vice President who is also a Head of Function and above) if they are ineffective, errant and negligent in discharging their responsibilities. The President/Group Managing Director be given the authority to assess and evaluate candidates for new appointments, negotiate and determine the salary, benefits and terms and conditions of service for the positions of Vice President who is also a Head of Function and above and thereafter it would be tabled to the Nominating Committee for approval and thereafter to the Board Directors for notation.

That the performance evaluation of Vice President (Head of Function) is delegated to the President/Group Managing Director.

•

Propose the appointment of Board members to the Board of Directors of subsidiary companies.