The Case Study - Seylan Bank

88Seylan Bank PLC Annual Report 2009Committee /Composition No. of meetings Scope/Terms of referenceEligibility Attendedto attendRemuneration CommitteeMr. N.M. Jayamanne PC(Chairman)Mr. P.L.P. WithanaMr. F.N. Goonewardena(resigned on 3/12/09)Dr. N.H. Godahewa(appointed w.e.f. 3/12/09)Mr. P.G.S. Kariyawasam(appointed w.e.f. 3/12/09)Rear Admiral (Rtd.)B.A.J.G. Peiris(appointed w.e.f. 3/12/09)Mr. S.P.S. Ranatunga(appointed w.e.f. 13/01/10)222N/A*N/A*N/A22–N/AN/AN/A* No meeting were held after 3rd December 2009 until 31st December 2009The Remuneration Committee during 2009 comprisedof six Non-Executive Directors and was headed byMr. Nihal Jayamanne PC, an IndependentNon-Executive Director.The General Manager/CEO attended the meeting byinvitation wherever permissible.The mandate of the Committee is to determine theremuneration policies relating to directors, theChief Executive Officer and the Key ManagementPersonnel (KMPs) of the Bank; set goals andtargets for the CEO and KMPs and evaluate theirperformance against these targets periodically todetermine the basis of revising remuneration andother benefits paid.The Committee met twice during the year.The Report of the Remuneration Committee includingthe Remuneration Policy is set out on page 103 of theAnnual Report.Nomination CommitteeRear Admiral (Rtd.)B.A.J.G. Peiris (Chairman)11The Nomination Committee during 2009 comprisedof four Non-Executive Directors and was headed byRear Admiral (Rtd.) B.A.J.G. Peiris.Mr. N.M. Jayamanne PCMr. F.N. Goonewardena(resigned on 3/12/09)Mr. A.L. Devasurendra(appointed w.e.f. 3/12/09)Mr. S.P.S. Ranatunga(appointed w.e.f. 13/01/10)11N/A*N/A*1–N/AN/A* No meeting were held after 3rd December 2009 until 31st December 2009The Chairman, Executive Director and the CEO attendthe meeting by invitation wherever permissible.The Committee met once during the year.The Committee makes recommendations to theboard on the selection, appointment of new directorsand key management personnel, determine thequalifications, experience and competenciesrequired by such personnel to hold office of theCEO or other key posts, determine their successionplanning and recommend election of directors andreview the composition and structure of the board ofdirectors having due regard to the balance of skillsrequired to be maintained on the board.