3.1 Board of Directors
The Diversity Policy provides for the Board to develop an appointment process for future directors that takes diversity of background into account to fit and enhance the Board skills matrix.
In order to promote the specific objective of gender diversity, the Diversity Policy requires that the selection process for Board appointments must involve the following steps:
- a short-list identifying potential candidates for the appointment must be compiled and must include at least one female candidate; and
- if, at the end of the selection process, a female candidate is not selected, the Board must be satisfied that there are objective reasons to support its determination.
The MDI Board is committed to workplace diversity, with a particular focus on supporting the representation of women at the senior level of MDI’s management. While there is currently no gender diversity on the Board, the Board is made up of individuals from various professions, cultures, and backgrounds.
(i) The Remuneration and Nomination Committee is responsible for:
- developing measurable objectives and strategies to meet the Objectives of the Diversity Policy (Measurable Objectives); and
- monitoring the progress of the Measurable Objectives through the evaluation and reporting mechanisms outlined.
(ii) The Remuneration and Nomination Committee may also recommend to the Board Measurable Objectives for achieving gender diversity and monitor their achievement.
(iii) The Remuneration and Nomination Committee will conduct all Board appointment processes in a manner that promotes gender diversity, including establishing a structured approach for identifying a pool of candidates, using external experts where necessary.