Annual Report and Accounts 2013
Petra Diamonds Limited 69
Performance Review
Strategic Review
Corporate Governance
Group Accounts
Corporate Governance
Report of the Nomination Committee
FY 2013 Nomination Committee highlights
Preparation of a detailed role specification with regards
to the search for a Senior Independent Director
The appointment of Tony Lowrie as Senior
Independent Director
Oversight of the Board performance evaluation exercise
Role of the Nomination Committee
The principal functions of the Nomination Committee include
the following:
to review the structure, size and composition of the Board
(including appropriate skills, knowledge, experience and
diversity), and to make recommendations to the Board
with regards to any changes;
Adonis Pouroulis
Non-Executive Chairman
to identify, nominate and recommend, for the approval
of the Board, appropriate candidates to fill Board vacancies
as and when they arise;
to make recommendations to the Board concerning
membership of the Audit and Remuneration Committees;
to satisfy itself, with regards to succession planning, that
plans are in place with regards to both Board and Senior
Management positions; and
to assess and, if appropriate recommend to the Board
the re-election by shareholders at the AGM of any Director
under the retirement and re-election provisions of the
Company’s Bye-Laws.
Activity in FY 2013
The Committee’s focus for the Year was the identification
of a candidate who would have the right attributes required
of a Senior Independent Director of a FTSE 250 mining company.
A search consultant, independent to the Company, was engaged
to assist with the recruitment process.
A shortlist was put together and evaluated, following which
the Nomination Committee recommended the appointment of
Mr Lowrie, who fulfilled the requirements of a Senior Independent
Director with strong financial and UK capital markets experience,
given his 35 years within the equities business, as well as his
specific experience acting as an iNED of other FTSE 250
mining companies.
Petra understands that diversity is important to the effective
functioning of a Board. The Petra Board is considered to have a
broad but highly relevant skillset; however the Committee will
continue to evaluate its composition going forward and any
new appointments would be based on a range of factors,
including diversity.
I take pleasure in welcoming Tony Lowrie to the Petra Board as the
Senior Independent Director, as the first Director to formally fulfil
this important governance role for the Petra Group.
Adonis Pouroulis, Chairman of the Nomination Committee
Non-Executive Chairman
Adonis Pouroulis
Chairman of the
Nomination Committee
Independent Non-Executive
Pat Bartlett
Gordon Hamilton
Tony Lowrie
(appointed 12 September 2012)
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