Reports Tool + open

IN THIS SECTION
Board committees

Board committees

The Board has established a number of standing committees with delegated authority from the Board. The Board remains the focal point of corporate governance and the highest governing authority of the company. In delegating its authority to the subcommittees, the directors do not abdicate their duties and responsibilities. The subcommittee members are all non-executive directors and the CEO is a permanent invitee to each subcommittee meeting. The subcommittees comprise the Nominating and Governance Committee, the Audit Committee, the Remuneration Committee, the Safety, Health and Sustainable Development Committee and the Capital Projects Control and Review Committee. The subcommittees operate in accordance with written terms of reference, which are regularly reviewed by the Board and are available on the company’s website (www.goldfields.co.za) or, on request, from the company’s secretarial office. Updated terms of reference are currently being reviewed and, once approved by the Board, will be placed on the website.

Each Board subcommittee is chaired by an independent nonexecutive director. The subcommittees are required to evaluate their own effectiveness and performance on an annual basis and to report the respective findings to the Board for consideration.