Board Diversity
Our Board exercises its fiduciary responsibilities in the widest
sense of the term. We recognize and embrace the importance
of a diverse Board in our success. A truly diverse Board
enables us to leverage differences in thought, perspective,
knowledge, skill, regional and industry experience, cultural
and geographical backgrounds, age, ethnicity, race and
gender, which help to retain our competitive advantage.
Our Board Diversity Policy is as follows:
The Company believes that a diverse Board will amongst
others –
a. Enhance the quality of decisions making and ensure better
business performance.
b. Encourage diversity of perspectives thereby fuel creativity
and innovation.
c. Complement and expand the skills, knowledge and
experience of the Board as a whole.
d. Provide better Corporate Governance.
A diverse Board will include and make good use of the
differences in the skills, knowledge, industry experience,
background, race, gender and other qualities of the individual
members as a whole. All Board appointments will be done on
merit, in the context of skills as required for the areas of our
business operations, management and also expertise in the
fields of regulatory, legal, research / clinical development,
human capital management, strategic planning, marketing
and general administration.
NOMINATION AND APPOINTMENT
The Nomination and Remuneration Committee (‘Committee’)
of the Board shall be responsible for:
a. Reviewing and assessing the composition and performance
of the Board.
b. Identify appropriate qualified personnel to occupy Board
position.
c. Suggest appropriate expertise and diversity required based
on future projected activities of the Company.
d. Managing the process of recruiting new member to the
Board, defining requisite skills and expertise and make
recommendations to the Board.
e. Ensuring that selection process is formal and thorough and
non-discriminatory.
f. Review and report any changes in relation to the diversity
of the Board.
The Committee shall also review the Board composition in
terms of the size of the Board, the composition of executive
and non-executive directors and the composition of
independent directors, each of which shall be in accordance
with the requirements of the Articles of Association of the
Company, the Listing Agreements and other statutory /
regulatory requirements.
MONITORING, TRACKING AND
REPORTING
The Committee shall support laying down a succession plan
and drive the understanding of talent across the organization
and support development programme for the Board. As part
of the exercise, it will also review and suggest training for
directors. Amongst the key requirements is to also plan for
the evolution of non-executive directors over the medium
term to maintain appropriate mix of skills, age and gender
diversity on the Board.
The Committee will conduct and annual review of the policy
(including a review of the effectiveness of the Policy), discuss
any changes with the Board and ensure that the revisions to
the Policy are approved by the Board.
Avikro shall provide sufficient information about this policy to
its shareholders, and provide information regarding the
composition of the Board, the areas of expertise of each
director and their qualification / characteristics etc. The
policy shall be made available in the website of the Company.
AMENDMENTS AND UPDATIONS
The Committee shall review this Policy on a periodic basis and
recommend revisions to the Board for consideration and
approval.
INTERPRETATION
Any words used in this policy but not defined herein shall
have the same meaning ascribed to it in the Articles of
Association of the Company or Rules made thereunder.
In case of any dispute or difference upon the meaning/
interpretation of any word or provision in this Policy, the
same shall be referred to the Committee and the decision of
the Committee in such a case shall be final.