Document Code: NeftalyP148
Approved By: Chief Executive Officer (Neftaly Chief Executive Officer)
Date Approved: 31 October 2025
Review Date: 28 November 2026
Policy Owner: Neftaly Chief Human Capital Officer, NeftalyCHCR
NeftalyP148-1 Overview
NeftalyP148-1-1 The Neftaly Human Capital Directors Management Policy (NeftalyP148) provides a comprehensive framework for the appointment, roles, responsibilities, performance, and oversight of all Royal Directors within Neftaly Human Capital. This policy ensures that directors are effectively managed to achieve organizational goals, maintain accountability, and uphold Neftaly’s Royal values and strategic objectives.
NeftalyP148-2 Purpose
NeftalyP148-2-1 The purpose of this policy is to:
- NeftalyP148-2-1-1 Define clear roles, responsibilities, and authority of Royal Directors.
- NeftalyP148-2-1-2 Establish procedures for appointment, evaluation, and succession planning.
- NeftalyP148-2-1-3 Promote consistency, accountability, and strategic alignment across all divisions.
- NeftalyP148-2-1-4 Provide standardized documentation and reporting mechanisms to ensure oversight and performance management.
NeftalyP148-3 Scope
NeftalyP148-3-1 This policy applies to:
- NeftalyP148-3-1-1 All Royal Directors, Deputy Chiefs, and Officers within Neftaly Human Capital.
- NeftalyP148-3-1-2 All divisions, departments, and projects under Neftaly Royal governance.
- NeftalyP148-3-1-3 Procedures related to appointment, evaluation, succession, and reporting of directors.
NeftalyP148-4 Policy Statement
NeftalyP148-4-1 Neftaly is committed to ensuring that all Royal Directors are appointed, evaluated, and managed according to a structured and transparent process. Directors must demonstrate leadership, strategic thinking, and adherence to Neftaly values while overseeing their divisions effectively.
NeftalyP148-5 Core Principles
- NeftalyP148-5-1 Accountability: Directors are responsible for achieving divisional objectives and reporting performance.
- NeftalyP148-5-2 Transparency: Appointment, evaluation, and succession processes must be clear and documented.
- NeftalyP148-5-3 Strategic Alignment: Directors must align their divisional strategies with Neftaly’s overarching goals.
- NeftalyP148-5-4 Equity: Recruitment and succession must be fair, merit-based, and inclusive.
- NeftalyP148-5-5 Continuous Improvement: Directors are expected to engage in professional development and leadership enhancement.
NeftalyP148-6 Procedures and Processes
NeftalyP148-6-1 Appointment of Directors
- NeftalyP148-6-1-1 Positions are identified and approved by the Neftaly Chief Executive Officer and Neftaly Chief Human Capital Officer.
- NeftalyP148-6-1-2 Candidates are evaluated based on qualifications, experience, and alignment with Neftaly values.
- NeftalyP148-6-1-3 Final appointments are documented using NeftalyF148-01 Director Appointment Form and recorded in the NeftalyD148-01 Director Register.
NeftalyP148-6-2 Roles and Responsibilities
- NeftalyP148-6-2-1 Neftaly Directors provides leadership and strategic direction for assigned divisions.
- NeftalyP148-6-2-2 Manage Officers and Human Capital effectively, ensuring performance standards are met.
- NeftalyP148-6-2-3 Monitor resource allocation, budgets, and operational outcomes.
- NeftalyP148-6-2-4 Report regularly to the Neftaly Chief Human Capital Officer and Neftaly Chief Executive Officer on divisional performance using NeftalyR148-01 Director Performance Report Template.
NeftalyP148-6-3 Performance Evaluation
- NeftalyP148-6-3-1 Annual evaluations are conducted using NeftalyF148-02 Director Evaluation Form.
- NeftalyP148-6-3-2 Evaluation criteria include leadership effectiveness, strategic alignment, team management, and achievement of objectives.
- NeftalyP148-6-3-3 Results inform succession planning, development initiatives, and performance recognition.
NeftalyP148-6-4 Neftaly Director Succession Planning
- NeftalyP148-6-4-0 Neftaly will appoint Neftaly Directors from Neftaly Human Capital to align with compliance requirements from regulatory Authorities whos Directorship will be terminated upon resignation, termination or death
- NeftalyP148-6-4-1 Neftaly Chief Human Capital Officer and Neftaly Chief Executive Officer maintain a succession plan for all Neftaly Director positions
- NeftalyP148-6-4-2 Neftaly Chief Human Capital Officer must ensure that potential successors are identified, mentored, and developed in alignment with Neftaly strategic objectives.
- NeftalyP148-6-4-3 Neftaly Chief Human Capital Officer must replace the existing Neftaly Director with immediate effect after receiving a resignation letter
- NeftalyP148-6-4-4 Neftaly Chief Human Capital Officer must replace the existing Director at SARS and Banks using the accounting officer by the assistance of Neftaly Chief Executive Officer
- NeftalyP148-6-4-5 Neftaly Chief Human Capital Officer must ensure that exiting Neftaly Director is replaced is informed in writing of successful removal from Neftaly Documents for their own records and clarification
NeftalyP148-6-5 Neftaly Director Reporting and Documentation
- NeftalyP148-6-5-1 Neftaly Director appointments, evaluations, and succession planning activities are logged in the Director Register.
- NeftalyP148-6-5-2 Quarterly and annual performance reports are submitted to the Neftaly Chief Executive Officer and Royal Board Committee.
- NeftalyP148-6-5-3 All records are securely stored in the Neftaly Human Capital repository.
NeftalyP148-6-6 Compliance and Accountability
- NeftalyP148-6-6-1 Directors are held accountable for their division’s performance and adherence to Neftaly policies.
- NeftalyP148-6-6-2 Non-compliance or underperformance may result in corrective action, retraining, or reassignment.
- NeftalyP148-6-6-3 Neftaly Directorship does not have shareholding it is to ensure accountability and compliance with the Corporate Governance regulations
NeftalyP148-7 Roles and Responsibilities
| Role | Responsibilities |
|---|---|
| Chief Executive Officer (CEO) | Approves director appointments, oversees performance, and ensures alignment with strategic goals. |
| Chief Human Capital Officer (CHCO) | Facilitates appointment processes, evaluations, and succession planning. |
| Royal Directors | Lead divisions, manage Human Capital, and ensure operational excellence. |
| Deputy Chiefs | Support directors in operational management and performance tracking. |
| Officers | Assist in reporting, documentation, and implementation of divisional strategies. |
NeftalyP148-8 Documentation and Templates
- NeftalyP148-8-1 NeftalyF148-01: Director Appointment Form
- NeftalyP148-8-2 NeftalyF148-02: Director Evaluation Form
- NeftalyP148-8-3 NeftalyD148-01: Director Register
- NeftalyP148-8-4 NeftalyR148-01: Director Performance Report Template
- NeftalyP148-8-5 NeftalyT148-01: Director Succession Plan Template
NeftalyP148-9 Compliance and Monitoring
- NeftalyP148-9-1 The Neftaly Chief Human Capital Officer conducts regular audits of director performance, reporting, and succession planning.
- NeftalyP148-9-2 Any breach of policy or underperformance is addressed in accordance with Neftaly Human Capital Conduct and Governance Policies.
- NeftalyP148-9-3 Compliance reports are submitted to the Neftaly Chief Executive Officer and Royal Board Committee for review.
NeftalyP148-10 Review and Evaluation
NeftalyP148-10-1 This policy shall be reviewed annually by the Neftaly Chief Human Capital Officer and approved by the Neftaly Chief Executive Officer to ensure it remains relevant, effective, and aligned with Neftaly’s strategic objectives.
NeftalyP148-11 Frequently Asked Questions (FAQs)
Q1: Who approves the appointment of Royal Directors?
A: The Neftaly Chief Executive Officer approves appointments, with oversight and recommendations from the Neftaly Chief Human Capital Officer.
Q2: How often are directors evaluated?
A: Annually, using the Director Evaluation Form.
Q3: How are successors for director positions chosen?
A: Based on the Director Succession Plan, performance, and potential development within Neftaly.
Q4: Can a director be removed for underperformance?
A: Yes, underperformance or policy breaches are addressed following corrective action procedures.
Q5: Are director records confidential?
A: Yes, all appointment, evaluation, and succession records are securely stored and only accessible to authorized personnel.
Approved By:
Neftaly Malatjie
Chief Executive Officer