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Governance

"Your Board is committed to ensuring good governance to not only protect shareholder value but to enhance it." - Eduardo Hochschild, Chairman.

A Message from Eduardo Hochschild, Chairman

Your Board is committed to ensuring good governance to not only protect shareholder value but to further enhance it by the implementation of a robust framework of controls and practices.

I would like to highlight the following activities in this crucial area undertaken by the Directors during 2017.

Succession planning

As highlighted in last year’s Annual Report, a number of changes at Board level were anticipated and so I am delighted that despite having lost the long-standing support of three Non-Executive Directors, we were well placed to ensure continuity at Board level. In addition, we were delighted to announce the appointment of Dionisio Romero Paoletti as a Non-Executive Director. Dionisio joined the Board on 1 January 2018 and brings a vast wealth of business experience in Latin America, as the Chairman and CEO of the Credicorp financial group. Succession planning was not only limited to the Board. During the year, the Nominations Committee considered the status of the succession plans for the Group’s senior executives. This process involved a review of the key positions below Board level and identifying the rising talent across all functions. The Committee considered specific development plans which, supported by the allocation of the necessary resources, will further strengthen the Group’s ability to accomplish our operational and strategic objectives.

Board evaluation

In 2017, we continued with our internally-led Board evaluation process which last year was managed by Michael Rawlinson, as our Senior Independent Director-Designate. The process, which is described in more detail in the 2017 Annual Report, reviewed many aspects of the functioning of the Board, the Committees and the roles played by the Directors. In addition, the opportunity was taken to identify topics of interest for incorporation of presentations by speakers into the annual board calendar.  Equipping the Board with the necessary skills and knowledge of the sector and the global environment in which we operate is key, and I look forward on reporting on these aspects in next year’s Annual Report.

Please feel free to get in touch if you should have any questions on governance at Hochschild Mining or wish to discuss any particular aspects by emailing Chairman@hocplc.com .