Stewardship

• Corporate Governance
• Board Sub-committees
• Board Audit Committee Report
• Board Human Resources and Remuneration Committee Report
• Board Nomination Committee Report
• Board Integrated Risk Management Committee Report
• Director's Interest in Contracts with the Company
• Board of Directors
• Corporate Management Team
• Senior Management Team
• Management Committee - Bangladesh
• Managing Risk at Commercial Bank
• Events 2010
• Investor Relations
• US$ Income Statement
• US$ Balance Sheet
• Decade at a Glance
• Group Structure

Board Nomination Committee Report

Composition of the Nomination Committee

The Nomination Committee comprises of Mr. M.J.C. Amarasuriya, Chairman and Mr. B. R. L. Fernando, Deputy Chairman and Mr. A.L. Gooneratne, Managing Director attends meetings by invitation. Ms. Janaki Kuruppu who was also a member of the Committee resigned from the Board of Directors of the Company and the Committee with effect from July 15, 2010. The Committee Members are appointed by the Board of Directors of the Bank. Mrs. R.R. Dunuwille, the Company Secretary of the Bank, functions as the Secretary of the Committee.

Charter of the Nomination Committee

The mandate of the Committee includes inter-alia the following;

• To implement a procedure to select/appoint new Directors/Chief Executive Officer and Key Management Personnel.
• To consider and recommend (or not recommend) the re-election of current Directors, taking into account the performance and contribution made by them towards the overall discharge of the Board’s responsibilities.
• To set the criteria such as qualifications, experience and key attributes required for eligibility to be considered for appointment or promotion to the post of Chief Executive Officer and the key management positions.
• To ensure that Directors, Chief Executive Officer and Key Management Personnel are fit and proper persons to hold office.
• To consider and recommend from time to time, the requirements of additional/new expertise and the succession arrangements for retiring Directors and Key Management Personnel.
• To make recommendations on matters referred to it by the Board.

Nomination Committee Meetings

The Committee met twice during the year under review. The attendance of Committee Members at meetings is stated in the table on Board Sub-Committees. The proceedings of the Committee meetings are regularly reported to the Board of Directors.

Methodology Adopted by the Nomination Committee

The Committee continues to work closely with the Board in reviewing regularly, the skills needed for the Bank and the Board. The Committee is satisfied that the representation of skills on the Board is appropriate for the Bank’s current needs.

M.J.C. Amarasuriya
Chairman - Nomination Committee

Colombo
February 15, 2011