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MultiChoice South Africa Holdings Proprietary Limited
Integrated annual report 2018
Corporate governance review
(continued)
The performance objectives of our executive directors for the 2017/18 financial year and the
proposed objectives for the 2018/19 financial year are outlined below:
Name
2017/18 objective and weighting
2018/19 objective and weighting
Nolo Letele
h
Trading profit – 10%
h
Free cash flow target – 10%
h
Subscriber growth (RSA) – 20%
h
Strategic and operational
goals – 60%
h
Financials (MCSA group) – 10%
h
Subscriber growth (RSA) – 10%
h
Subscriber gross growth (RSA) – 10%
h
Subscriber growth (Connected
Video (CV)) – 10%
h
Strategic and operational
goals – 60%
Uvashni
Raman
h
Core headline earnings – 10%
h
Cash target – 15%
h
Subscriber growth (RSA) – 10%
h
Subscriber growth (MultiChoice
Africa Limited – MAL) – 10%
h
Strategic and operational
goals – 55%
h
Financial targets – 20%
h
Equated subscriber growth (RSA
and MAL) – 10%
h
Subscriber gross
growth (RSA and MAL) – 5%
h
Subscriber growth (CV) – 5%
h
Strategic and operational
goals – 60%
Remuneration report
(continued)
for the year ended 31 March 2018
Non-executive directors’
remuneration policy
The fee structure for non-executive directors
has been designed to ensure we attract, retain
and appropriately compensate a diverse and
experienced board of non-executive directors.
Non-executive directors receive an annual
fee as opposed to a fee per meeting,
which recognises their ongoing responsibility
for efficient control of the company.
Remuneration is reviewed annually, and is
not linked to the company’s share price or
performance. Non-executive directors do not
qualify for share allocations under the group’s
incentive schemes.
Non-executive directors’ terms of
appointment
The board has clear procedures for
appointing and orientating directors. The
nomination committee periodically assesses
the skills represented on the board and
determines whether these meet the
company’s needs. Annual self-evaluations
are done by the board and its committees.
Directors are invited to give their input in
identifying potential candidates. Members of
the nomination committee propose suitable
candidates for consideration by the board. A
fit and proper evaluation is performed for each
candidate.
Retirement and re-election of directors
All non-executive directors are subject to
retirement and re-election by shareholders
every three years. Additionally, non-executive
directors are subject to election by
shareholders at the first suitable opportunity
for interim appointments. The names of
non-executive directors submitted for election
or re-election are accompanied by brief
biographical details to enable shareholders to
make an informed decision on their election.
The reappointment of non-executive directors
is not automatic.