Lenovo 2013 Annual Report Download - page 42

Download and view the complete annual report

Please find page 42 of the 2013 Lenovo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 188

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188

CORPORATE GOVERNANCE REPORT
Lenovo Group Limited 2012/13 Annual Report
40
Appointment and Election of Directors
Board diversity
The Board values diversity as a factor in selecting candidates to serve on the Board, and believes that the diversity which
exists in its composition provides significant benefits to the Board and the Company.
There is a formal and transparent procedure for the appointment of new directors to the Board, the primary responsibility
of which has been delegated to the Nomination and Governance Committee. The Nomination and Governance Committee
is composed of the Chairman and two independent non-executive directors. This composition ensures that any decisions
made are impartial and are in the best interest of the Company.
On May 23, 2013, the Board adopted the Board diversity policy (the “Diversity Policy”) which relates to the selection
of candidates for the Board. The Diversity Policy was adopted to ensure that diversity in its broadest sense continues to
remain a feature of the Board. The Nomination and Governance Committee’s assessment of the candidates includes, but
is not limited to, consideration of the relevant knowledge and diversity of backgrounds, skills, experience and perspectives
that would complement the existing Board. The Company has set out the following objectives for fiscal year 2013/14:
Measurable objectives Goal for meeting objective
Objective 1 Consider candidates for appointment as independent
non-executive directors from a wide pool of backgrounds,
skills, experience and perspectives that would complement
the existing Board
In the ordinary course of the Board
succession process
Objective 2 Report annually against the objectives and other initiatives
taking place within the Company which promote diversity
FY2013/14 and ongoing
Objective 3 Report annually on the outcome of the composition and
structure of the Board as well as any issues and challenges
the Board is facing when considering the diverse make up of
the Company
FY2013/14 and ongoing
Board appointment process
The structure, size and composition (including, for example, gender, age, and length of service) of the Board will be
reviewed from time to time by the Nomination and Governance Committee to ensure that the Board has a balance of skill
and expertise for providing effective leadership to the Company. The Nomination and Governance Committee also ensures
that candidates satisfy the requisite skills and core competencies to be deemed fit and proper, and to be appointed as
director. The nomination process involves the following six stages:
1
2
3
4
5
6RECOMMENDATION TO THE BOARD FOR APPROVAL
Final deliberation by Nomination and Governance Committee
Meeting with candidates
Evaluation of suitability of candidates
Identifi cation of candidates
Evaluation of the Board composition and establishment of desired criteria for prospective directors