The Nomination and Governance Committee continues to believe that a longer induction period is desirable for new Independent Directors to allow for building understanding of the business and, where succession for a Committee Chair is taking place, the transfer of knowledge and relationships associated with the particular committee.
Additionally, the Board believes it is important for all Directors to have significant international experience at an executive level, a challenging yet consensual style, and the highest level of integrity. The Committee regularly considers whether there may be gaps in fulfilling the specific and in-depth experience that the Board requires as a whole, which focuses on the following areas:
– strategy, culture and leadership
– business environment in both the US and the MENA region
– pharmaceutical manufacturing and distribution
–development of new healthcare capabilities
– listing regulations, investor perceptions and governance
Hikma supports Directors in their continued professional development. As the Directors are highly experienced, their training needs tend to be related to either ensuring awareness of changes in the business, political and regulatory environments, or bespoke training on particular areas for development. Therefore, Hikma financially supports specific training requests and ensures that Directors are briefed by internal and external advisers on a regular basis.
During the year, the Board received briefings on matters such as the pharmaceutical competitive environment, the development of biosimilars, healthcare business development activity, crisis management, investor perceptions, business intelligence, capital markets and listing related developments.
Board geographical experience