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Food Empire Holdings Limited Annual Report 2013
41
corporate governance
D) BOARD MEMBERSHIP (cont’d)
- Principle 4: Formal and transparent process of appointment of new Directors (cont’d)
Directors
Date of last re-election
Ong Kian Min
23 April 2013
Hartono Gunawan
28 April 2011
Koh Yew Hiap
27 April 2012
Tan Guek Ming
27 April 2012
Lew Syn Pau
23 April 2013
Sudeep Nair
23 April 2013
Boon Yoon Chiang
23 April 2013
Tan Wang Cheow
27 April 2012
The NC had reviewed the multiple-board seats held by the Directors to determine if they had been adequately carrying out their duties
as a Director of the Company. Though some of the Directors have multiple board representations, the NC is satisfied that the Directors
have devoted sufficient time and attention to the Company. The Board does not think that it is necessary to set the maximum number
of listed board representations that any Director may hold as all the Directors are able to devote to the Company’s affairs in light of their
commitments.
The NC is responsible for identifying and recommending new Board members, after considering the necessary and desirable competencies.
The NC may engage consultants to undertake research on, or to assess a candidate for new positions on the Board. The NC can engage
other independent experts if it considers it necessary to help it carry out its duties and responsibilities. Recommendations for new Board
members are put to the Board for its consideration.
E) BOARD PERFORMANCE
- Principle 5: Formal assessment of the effectiveness of the Board and contributions of each Director
The NC has formulated an evaluation process for assessing the effectiveness of the Board and its Committees and the contributions of each
Director. The assessment parameters include:
a) attendance at Board and Committee meetings;
b) participation in meetings and special contributions including management’s access to the Director for guidance or exchange of views
outside the formal environment of Board meetings; and
c) introducing contacts of strategic benefit to the Group.
The Board’s evaluation process is performed annually.
The Board is of the view that the financial parameters recommended by the Code as performance criteria for the evaluation of Directors do
not fully measure the contributions Directors make to the long-term success of the Company.