Succession planning for the Board of Directors, induction and development
KMG is developing a succession programme for members of the Board of Directors, which is linked to the development of a similar programme for the Management Board. The project is expected to be completed in 2020.
KMG has in place an Induction Programme for newly elected members of KMG' Board of Directors, approved by KMG’s Board of Directors dated 23 February 2017. In March 2019, the Programme was amended by resolution of the Board of Directors based on the results of the review of best practices in corporate governance. In particular, the performance in completing the Induction Programme for newly elected members of the Board of Directors will now be taken into account when assessing the performance of the Board members.
The Corporate Secretary conducts monitoring of the Programme implementation, i.e. its actual completion by all newly elected members of the Board of Directors. During 2019, Anthony Espina and Luís Maria Viana Palha da Silva, newly elected members of the Board of Directors, completed the Programme, including site visits to a number of production facilities.
Members of the Board of Directors are trained on a regular basis in accordance with an approved programme. On 1 July 2019, all members of the Board of Directors took part in the themed training “Global Trends in Sustainable Development and Their Impact on Organisations” organised by Ernst & Young.