The Terms of Reference of ACSA’s Board of Directors defines the
parameters of interaction for the Directors. It is a comprehensive
policy document that clearly defines the Board’s values. The Board
of Directors consists of a Non-Executive Chairman and Non-Executive Directors who are appointed by the shareholders, as
well as the Executive Directors (including the Managing Director).
The Managing Director and Finance Director and any other
Executive Directors are appointed by the Board of Directors. The
Board meets bi-monthly (ie six times a year) to determine policy
and deliberate on material aspects of the business as well as to
evaluate the actions of the executive management team.
The Board is well-balanced, containing significant skills and experience in finance, audit and risk management, administration, organisational structure and human resource management,
coupled with wide experience and expertise in the airport management sector and retail and property development.
Directors have full and free access to Company information via the
Company Secretary and also have the right to seek independent
At every Annual General meeting, one third of the Non-executive
Directors retire but are eligible for re-election.
The Board has established six committees
to focus on key functional areas of the core business of the
organisation where special expertise is required.
With the exception
of the Executive Committee, they are chaired by Non-Executive
Directors and all members of each committee are non-executive and specialist co-opted members.