[PDF] re appointment of directors

What is the procedure for re-appointment of independent directors?

Appointment, re-appointment, or removal of independent directors shall be subject to shareholder approval by special resolution. In case of resignation or removal of an independent director, the replacement was to be appointed within the later of the next board meeting or three months from the date of such vacancy.

Who makes a director's appointment?

Directors are normally appointed by the company’s shareholders, or the board of directors itself. If the board makes a director’s appointment, it’s possible that the shareholders have to confirm the appointment. What are the eligibility criteria to become a director?

Can a director be reappointed at an annual general meeting?

4.1 The re-appointment of directors will not be automatic. The board will ensure planned and progressive refreshing of the Board. Every Director shall retire from office at each annual general meeting. A Director who retires at an Annual General Meeting may, if willing to act, be reappointed.

Are retiring directors automatically re-appointed?

Retiring Directors are not automatically re-appointed. Every Director shall retire from office at each annual general meeting. A Director who retires at an annual general meeting may, if willing to act, be reappointed and is subject to the selection and appointment procedures outlined below.