FGV Annual Report 2017

FELDA GLOBAL VENTURES HOLDINGS BERHAD HOW WE ARE GOVERNED 70 BOARD ACTIVITIES WHAT THE BOARD DID THIS YEAR Board activities are structured to develop the Group’s strategy and to enable the Board to support executive management on the delivery of the Group’s strategy within a transparent Governance Framework. Key matters considered by the Board in 2017 are as follows: • Re-election of Directors • Annual fees for the Board and the Board Committees • Change of directorship in FGV Group • Promotion of the Group’s Top Management positions • Performance bonus and annual salary increment for GP/CEO • Performance bonus and annual salary increment for employees of FGV Group • Extension of the Fixed Term Contracts for the Group’s Top Management • Medical facilities • Long Term Incentive Plan Succession Planning, Appointments and Remuneration • Review Board composition • Appointment of Government Appointed Director/ Chairman • Appointment of Directors representing FGV’s major shareholder • Appointment of new Independent Directors • Remuneration package of the Chairman • Appointment of new Chairman of Audit Committee • Revision of composition of the Board Committees of FGV • Board Performance Evaluation (assessment of the effectiveness of the Board, Board Committees and Individual Directors and Independent Directors of FGV Board) Strategy, Risk and Sustainability Investments and Divestments • Business Rationalisation Plan to enhance future corporate performance • Quarterly Risk Report • Risk Appetite Statement • Risk register and top 10 risks • Governance Quantum Leap • Organisation structure and Key Senior Management movements • Updates on sustainability matters • Sustainability certifications • Social Compliance and Human Rights Action Plan • Group-wide Cost Optimisation Exercise • Manpower shortage in plantation sector • Investment proposals in accordance with FGV Group’s Discretionary Authority Limits including their funding requirements • Divestment/dissolution proposals of FGV subsidiaries, joint venture and associate companies • Memorandum of Understanding (MoU) GOVERNANCE AT FGV: LEADERSHIP AND EFFECTIVENESS