Board evaluation

The board has been committed to an on-going self-evaluation process since 2018, the most recent having been completed in 2024.

During the last quarter of 2024, the board engaged an external assessor to carry out a board performance evaluation. The process was led by the chairman in conjunction with the company secretary. Working to a brief which specified a focus on board composition and structure, board skills, board meetings, and board briefings and communications, the assessor spent time interviewing the eight members of the board, as well as the Group’s Indonesian President Director, Ravichandran Krisnapillay, and the company secretary. She also observed two board meetings, as well as a remuneration and audit committee meeting.

The assessor gave a presentation of the findings, which had first been discussed with the chairman and company secretary, to the board and provided an executive summary for the board’s further consideration. Whilst the board was assessed as effective, the evaluation process raised insights primarily around succession planning, and how the board and its committees operate together. The board is in the process of reviewing next steps.

In response to the outcomes of the 2023 evaluation, during 2024 the board held a dedicated strategy day which was also attended by Ravichandran Krisnapillay. Another topic of focus, the effectiveness of stakeholder engagement, saw the executive directors working on the information published on the Group’s website during the year, and increasing their investor relations activities. In Indonesia, a workforce engagement programme has been initiated. Additional KPIs were also published in response to the 2023 board evaluation, and the board continues to consider new metrics that might be helpful to investors.