South Pacific Stock Exchange (SPX), and its subsidiary, Central Share Registry Limited may soon include an independent director on its board.

“It’s nothing new,” South Pacific Stock Exchange acting Chief Executive Officer, Pretesh Prasad, said.

“It’s just an expression of interest looking for talent to develop a pool that we may draw from.”

According to the expression of interest, the independent director appointment was on an interim basis, subject to shareholder approval at the 2022 annual general meeting.

The Board
South Pacific Stock Exchange does not comprise a full board as yet, which is a prescribed maximum of 10 members the five-member board is led by practising accountant and businesswoman, Nur Bano Ali, who serves also as an independent director, since her appointment in 2012.

Other board members include:
Vice chairperson, Saiyad Hussain, an accountant, who has served the board since August 2007. Mr Hussain is an executive of the Fiji Development Bank.

Janice Nand, appointed in April, 2019, is the second independent director on the board. She has 20 years commercial experience as an international lawyer, adviser and trainer.

Gyanesh Rueben was appointed in September, 2019. He is head of investments at BSP Life (Fiji) Limited

Rowena Fong, appointed 11 June 2018, is the chief executive officer of Merchant Finance Limited.

The Role
The role of any independent director must have no conflict of interest in the organisation, or the work expected of them on the board.

It is in any company’s best interest to have at least two independent directors on its board. The incumbent will serve for three years, and is eligible for reappointment.

Among essential attributes of the incumbent, are the following pre-requisites:

– a minimum of 10 years professional experience,

– member of Australian Institute of Company Directors, or similar bodies.

– demonstrated understanding of the boundaries of the executive and non-executive boundaries.

– Respectable, demonstrating stature.

Applications close on August 27, 2021.

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