Delivering good performance
The board is responsible for ensuring good performance, and as such, has a clear strategy to achieve this. The board meets annually with the executive team in November to review the group’s specific strategic priorities. In April 2021, the board reviewed the group’s three-year strategic plans and budgets, and approved the key performance measures and targets of all executives. The board oversees the implementation of the strategic plans throughout the year.
On appointment, all directors participate in a formal and comprehensive induction programme. Director training is held to refresh their skills and knowledge.
Directors are required to attend professional development training and briefings to keep abreast of legal and regulatory risks, developments and changes that could impact the environment in which the group and its subsidiaries operate.
We have MultiChoice e-learning modules for directors and senior executives. These modules are available to all our directors and senior managers on the MultiChoice Academy platform and are tailored to our internal policies and processes. The modules cover topics such as the JSE Listings Requirements, corporate governance, King IV, trading in securities and directors' specific duties.
The board and its committee charters include the onus of annual assessments. Assessments of the performance by the board, individual directors and its committees are conducted every second year. However, performance in general is considered every year as part of the review of the board's composition and its committees. The lead independent director leads the evaluation of the chair.
In March 2021, we evaluated the board committees' performance against their charters. All committees were found to have materially fulfilled their duties.
An online board evaluation concluded in May 2021 looked at individual directors' performance based on an online peer review, the board's performance as a whole, and the chair and CEO's performance. The board evaluation looks at each individual director's input and attributes holistically and includes aspects such as competencies, participation, meeting attendance and constructive deliberation. The evaluation did not identify the need for any significant areas of improvement and the board's performance was considered satisfactory. Going forward, the board will continue focusing on improving and refining its processes.