1. PURPOSE
The purpose of this Board Diversity policy is to set out the approach to diversity on the Board of Directors of MASTER-PACK GROUP BERHAD
2. SCOPE
This policy shall apply to the Board of Master-Pack Group Berhad only.
3. POLICY STATEMENT
The Board acknowledges the vital role of a diverse and inclusive board that functions as a cohesive team to pursue the goals and objectives of the Group. Our goal is to achieve an appropriate level of diversity, including gender, age, cultural background, ethnicity, and skills when making appointments to the Board. However, merit and competency will always be the primary criteria for new appointments to the Board, and we will not compromise on these standards.
A diverse board is one that brings together individuals with varied skills, experience, perspectives, and backgrounds relevant to the business of the Company and its subsidiaries. We understand that a diverse board can enhance decision-making, drive innovation, and foster an inclusive culture that benefits all stakeholders.
4. APPROACH
The Nominating Committee is responsible for reviewing and assessing board composition for recommendation to the Board, recommending the appointment of new directors, and overseeing the conduct of the annual evaluations of the Board, Board Committees and Individual Directors.
In reviewing the board composition, the Nominating Committee will consider the balance of skills, background, experience, functional expertise and the diversity representation of the Board as part of the annual evaluations of the Board, Board Committees and Individual Directors. The Board Skill Matrix is reviewed to consider whether there is a need to change the board composition or have identified gaps in specific skills which is required to strengthen and broaden the board leadership.
Boardroom harmony is also key to a high performing board as a conducive environment for the views of the Board members to be heard, their concerns attended to, where bias, discrimination or harassment on any matter is not condoned.
The Nominating Committee shall review the length of service of the Independent Directors and ensures it complies with the Listing Requirement that the maximum tenure of service should not exceed the mandatory 12 years
Diversity in the boardroom in terms of age demographics, would create a professional environment that is experience and mature as well as with youthful exuberance. The Board with a wide age range creates a dynamic, multi-generational team with a diverse range of skill sets.
The Board acknowledges the importance of women on the Board and will take cognizance to comply with the Malaysian Code on Corporate Governance which recommended 30% composition of women directors on the board. At the very least, the Board is committed to have one female director on the Board.
The Nominating Committee will assess the independence of the directors upon appointment and also annually, and will re-assess their independence when any new interest or relationships are disclosed by the directors. An Independent Director should fulfil the criteria as defined in the Listing Requirements; maintains a professional relationship with the Board members, is independent from Management and does not have any business / other relationship which may interfere with his independent judgment or the ability to act in the best interest of the company.
REPORTING
At Master-Pack Group Berhad, we are committed to promoting diversity and inclusion in our board composition. We will disclose our progress towards achieving this goal in the Corporate Governance Overview Statement of our Annual Report and the Company’s website.
The Nominating Committee, on behalf of the Board, will periodically review this policy to ensure its continued appropriateness and effectiveness. We recognize that promoting diversity requires a sustained effort and that progress towards achieving our diversity objectives should be regularly monitored and evaluated.
This Policy is approved by the Board of Directors on 31 March 2023.