A formal board charter confirms that the directors are accountable to shareholders and are responsible for the following:
A clear division of responsibility is embedded in the board charter, with the board chaired by an independent non-executive chairman. The board has delegated authority to the chief executive officer for the implementation of the strategy and the ongoing management of the business.
COMPOSITION AND DIVERSITY OF THE BOARD
Lewis Group has a unitary board structure consisting of six non-executive directors and two full-time, salaried executive directors. The board confirms that it has the appropriate mix of knowledge, skills, experience, diversity and independence to objectively discharge its governance role and responsibilities.
The board’s diversity policy is aimed at enhancing diversity. In 2023, the board retained the voluntary targets for female representation and racial diversity on the board at 30%.
Currently, 38% of board members are female and 38% are black in terms of the Broad- Based Black Economic Empowerment (B-BBEE) Act. Independent non-executive director Tapiwa Njikizana is Zimbabwean by birth and is therefore not included for purposes of the B-BBEE Act.