FGV Annual Report 2018

REINFORCED OUR STANDARDS OF GOVERNANCE 01 02 05 03 07 06 04 08 09 67 ANNUAL INTEGRATED REPORT 2018 GOVERNANCE AT FGV: LEADERSHIP AND EFFECTIVENESS BOARD ACTIVITIES • Review Board composition • Appointment of Government Appointed Director • Appointment of Director representing FGV’s Major Shareholder • Appointment of new Independent Directors • Remuneration package of the Chairman • Appointment of Chairman of Nomination and Remuneration Committee, Board Governance & Risk Management Committee and Board Tender 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) • 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 employees of FGV Group • Extension of the Fixed Term Contracts for the Group’s Top Management • Medical benefits • Long Term Incentive Plan • Top Management movements • Resignation of Group President/Chief Executive Officer (GP/CEO) and Group Chief Financial Officer (GCFO) • Appointment of Interim Chief Executive Officer and Acting Group Chief Financial Officer • Appointment of GCEO, GCFO, Chief Human Resources Officer (CHRO) and Chief Procurement Officer SUCCESSION PLANNING, APPOINTMENTS AND REMUNERATION • The Annual Integrated Report 2017 including the Chairman’s Statement, Group President and Chief Executive Officer’s Message, Management Discussion & Analysis, CGOS, Board Committees’ Reports, Statement on Risk Management and Internal Control, and Sustainability Statement • Formation of a Reporting Committee for Annual Integrated Report 2018 • The Group’s strategic plan taking into account change in leadership, operational challenges, industry and market dynamics. The revised strategic plan is guided by four strategic thrusts as follows: 1. Operational Improvement 2. Products and Markets Penetration 3. New Growth Area 4. Financial and Capability Building • Board Succession Planning Board Succession Planning did not commence in 2018 as the new Board members were just appointed. However, efforts have been undertaken to appoint an independent third party service provider to develop Board Succession Planning • Litigations pertaining to acquisition of Asian Plantations Limited and Troika Condominium units, lease of company cars and debt recovery • Internal investigations into various matters • Forensics and associated processes related to the Group’s past investments • Adoption of new FGV Constitution • Change of name from Felda Global Ventures Holdings Berhad to FGV Holdings Berhad ANNUAL INTEGRATED REPORT 2017 PRIORITIES FOR FY2019 OTHERS