XL HOLDINGS BERHAD (468142-U)

 

GENDER AND DIVERSITY POLICY

XL Holdings Berhad (“XLHB”) acknowledges the significance of diversity, equity and inclusion are fundamental to fostering a vibrant and innovative workplace.  XLHB also believe that gender diversity is an essential element in attaining effective strategic objectives to enhancing sustainable growth and development and in promoting better corporate governance within the Group.

This policy outlines our approach to ensuring equal opportunities for all employees and fostering a workplace where everyone can thrive. Through continuous education, proactive recruitment, and supportive practices. By cultivating a culture of diversity, XLHB aim to harness a wide range of perspectives and talents, which is essential for our growth and success.

 

1.0 PURPOSE

The Policy is to ensure that the mix and profiles of the Board members and senior management level, in terms of age, ethnicity and gender, provide the necessary range of perspectives, experiences and expertise required to achieve effective stewardship and management.

 

2.0 SCOPE

The Company recognise the importance of promoting gender diversity at Board and Senior Management level and takes cognisance of the best practices recommended under the Malaysian Code on Corporate Governance to have at least 30% female Directors.

This Policy provides a framework for the Group to achieve: –

  • Promoting Gender Equality – Ensuring that all employees have equal opportunities, regardless of gender. This includes fair hiring practices and equitable opportunities for advancement.
  • Fostering Diversity – Embracing and valuing the diverse backgrounds, perspectives, and skills that each employee brings to the organization.
  • Creating an Inclusive Environment – Cultivating a workplace culture where all employees feel included and respected. This involves actively preventing discrimination, harassment, and bias.
  • Providing Support and Resources – Offering support systems and resources that help employees balance their professional and personal lives, such as flexible work arrangements and parental leave.

 

3.0 RESPONSIBILITIES

The Board, assisted by Management, is responsible for developing strategies and monitoring the progress of achieving the objectives.

Board of Directors

  • Ensure gender diversity objectives are adopted in Board recruitment and succession planning process.
  • Monitor and review the progress of diversity initiatives and compliance with this policy.
  • Promote gender diversity within the board and senior management positions in line with Bursa Malaysia’s guidelines and recommendations.

Nomination Committee

  • To determine the benefits of diversity underpinned by meritocracy in order to maintain an optimum mix of skills, knowledge and experience.
  • Assess the appropriate mix of diversity including gender, ethnicity and age, skills, experience and expertise required and address gaps, if any;
  • Make recommendations to the Board in relation to the appointments and maintain an appropriate mix of diversity, skills, experience and expertise when required; and
  • Review and report to the Board on requirements in relation to diversity of the Board and senior management level if the need arises.

Senior Management

  • Embed the principles of gender equality and diversity into the company’s culture and operations.
  • Ensure that the company’s diversity and inclusion objectives are communicated to all employees.

All Employees

  • Uphold the principles of this policy in daily interactions and decision-making.
  • Report any instances of discrimination, harassment, or non-compliance with this policy to the appropriate channels.

 

4.0 STRATEGIES

  • Review and update recruitment and promotion processes to ensure fairness and transparency
  • Identifying specific factors to take into account the recruitment and selection processes to encourage gender diversity; and
  • any other strategies the Board may develop from time to time.

 

5.0 REVIEW AND DISCLOSURE

  • This Policy shall be disclosed in the annual report of the Company in accordance with the best practices of the Malaysian Code on Corporate Governance.
  • The Board, through Nomination Committee (“NC”) will be reviewed annually to ensure it remains relevant and effective in promoting gender equality and diversity within the organization.

 

Revised and approved at Board of Director meeting held on 16 August 2024