Nomination Commitee Charter - Summary
The BlueScope Steel Nomination Committee charter sets out the functions and responsibilities of the Committee, along with certain matters relevant to the operation of the Committee.
The Committee's role
The role of the Committee is to assist the Board in the effective discharge of its responsibilities for ensuring that the Board comprises individuals who are best able to discharge the responsibilities of directors, having regard to the law and the highest standards of governance.
The Committee's rights
The Committee has the ability to obtain independent professional advice to assist it with its functions, with the cost to be paid for by the Company.
The Committee's responsibility
The Committee generally has responsibility for:
- assessing the skills required on the Board;
- from time to time assessing the extent to which the required skills are represented on the Board;
- establishing processes for the identification of suitable candidates for appointment to the Board; and
- implementing processes for the induction of new non-executive Directors to the Company and processes for continuing education of Directors.
Membership requirements
The Committee consists of the Chairman, the Deputy Chairman and all of the non-executive Directors of the Company. All non-executive Directors of the Board become, upon appointment to the Board, members of the Committee. The Chairman of the Board is the Chairman of the Committee.
As a majority of the Board is required to be assessed as independent by the Board under the BlueScope Steel Board Charter, a majority of the Committee are independent non-executive Directors.
The Committee meets at least two scheduled times a year. The Managing Director and Chief Executive Officer may be invited by the Committee Chairman to attend meetings of the Nomination Committee.
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