Pick n Pay Stores Limited

nominations committee report

The nominations committee operates in accordance with the requirements of the Companies Act and King III and is governed by a Board-approved charter, which is reviewed and approved annually by the Board.

Role of the committee

The nominations committee is responsible for identifying and evaluating suitable candidates for possible appointment to the Board to ensure that the Board is balanced and able to fulfil its functions as recommended by King III. The committee identifies a list of candidates to be considered, and establishes availability, willingness and suitability.

The authority to appoint directors remains with the Board. Candidates identified by the committee are interviewed by all the non-executive directors before the potential appointment is referred to the Board for a decision. Appointees are referred to shareholders for election.

Composition of the committee, frequency of meetings, objectives and activities in the period under review

Members

Attendance

Objectives and activities 2015

Gareth Ackerman (Chairman)

Informal ad hoc meetings held as required
  • Objective to ensure proper succession planning for the Board, the CEO and the senior management positions, with the aim of ensuring that the Group’s long-term strategy is well executed
  • Recommended that directors who had served for more than nine years continue on the Board for continuity and experience
  • Reviewed the key performance indicators and objectives of the Group Chief Executive Officer
  • Assessed the competence and expertise of the Company Secretary

Lorato Phalatse

Ben van der Ross

David Friedland

Gareth Ackerman

Chairman: nominations committee

Cape Town
20 April 2015