Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD 2.4 Appointment The Board assumes the responsibilities for succession planning and for the appointment of new directors to the Board. The process for the appointment of directors, which is made in a transparent and formal manner, is available on the website of the company (https://www.cim.mu/governance-cfsl.html ). All directors will stand for re-election by way of separate resolutions at the Annual Meeting of Shareholders of the Company scheduled in February 2021. 2.5 Induction and Orientation The Board is responsible for the induction of new directors to the Board, a process facilitated by the Company Secretary. The induction programme has been designed to make directors fully aware of their legal duties and to acquaint them with the Company’s structure, strategies, mission and values. 2.6 Professional Development The Board reviews the professional development needs of directors during the Board evaluation process and directors are encouraged to develop their skills and expertise continuously. They also receive regular updates on the latest trends and legislations affecting the business from management and/or other industry experts. During the year under review, the directors participated in a workshop on Digital Transformation facilitated by Mr. Marc Israel in collaboration with the Mauritius Institute of Directors. Directors’ attendance at board and committee meetings as well as their remuneration including remuneration received from subsidiaries during the financial year ended 30 September 2020 were as set out in the table below. 1 Mrs Aisha Timol was appointed as independent director on 10 July 2020 and as Chairperson on 13 July 2020 2 Ms Teresa Clarke resigned as independent director on 10 July 2020 3 Mr. Denis Motet was appointed as independent director on 10 July 2020 4 Remuneration for Mr. Mark van Beuningen includes bonus for financial year 2018/2019 paid in December 2019 Attendance Interests Remuneration Board meetings CGC RMAC BIC Direct % Indirect % MUR TIMOL, Aisha 1 3/3 n/a n/a 2/2 0.0012 nil 1,700,000 CLARKE, Teresa Hillary 2 7/8 4/4 n/a n/a nil nil 580,000 DARGA, Amédée 11/11 n/a 7/7 2/2 0.0013 nil 990,000 JAUNBOCUS Fareedooddeen 11/11 n/a 6/7 n/a nil nil 740,000 MOTET, Denis 3 3/3 n/a n/a n/a 0.0013 nil 1,156,000 SOMEN, David 11/11 4/4 n/a n/a nil nil 2,085,500 TAYLOR, Colin 11/11 n/a n/a 2/2 0.0416 5.02 1,130,000 TAYLOR, Matthew 10/11 n/a 6/7 n/a 0.0059 1.20 730,000 TAYLOR, Philip 9/11 4/4 n/a n/a nil 5.02 670,000 TAYLOR, Timothy 11/11 4/4 n/a 2/2 0.4108 8.86 710,000 VAN BEUNINGEN, Mark 4 11/11 4/4 n/a 2/2 nil nil 19,151,106 51