The Harmony board is committed to and recognises the significance of good corporate governance and compliance, and their role in promoting the company’s reputation as an ethical, reputable and legitimate organisation and a responsible corporate citizen.
Board committees
While the board has ultimate accountability, particular roles and responsibilities are delegated to standing board committees. Each committee has formal terms of reference, reviewed annually, (and when necessary), to ensure the content remains appropriate.
The established committees are:
Audit and risk committee
- Monitors the operation of an adequate system of internal control and control processes
- Monitors the preparation of accurate financial reporting and statements in compliance with all applicable legal and corporate governance requirements and accounting standards
- Oversees governance of information and technology
- Monitors risk management and the overall governance of risk
Social and ethics committee
- Oversees policy and strategies pertaining to occupational health and employee well-being, environmental management, corporate social responsibility, human resources, public safety and ethics management
- Assesses Harmony’s compliance against relevant regulations
- Monitors performance of key sustainability-related indicators and levels of assurance
Remuneration committee
- Ensures directors and executive management are fairly rewarded for their contribution to Harmony’s performance
- Supports the board in monitoring, reviewing and approving Harmony’s compensation policies and practices, and in the administration of share incentive schemes
- Oversees the group remuneration policy
Nomination committee
- Ensures formal and transparent procedures in relation to board appointments
- Reviews succession planning for directors and other members of the executive team
- Oversees the board’s self-assessment process
Investment committee
- Reviews potential projects, acquisitions and disposals in line with Harmony’s strategy
- Ensures due diligence procedures are followed
Technical committee
- Provides a platform to discuss strategy, performance against targets, operational results, projects and safety
- Reviews strategic plans before making recommendations to the board for approval
- Provides technical guidance and support to management
