The board of directors for Fiji Sugar Corporation received significantly increased fees and allowances in 2024, amounting to approximately $72,000, compared to $24,000 in 2023, according to the corporation’s annual report released last week.
The annual report identifies the board members as Nitya Reddy (chairman), Athil Narayan, Kaison Chang, Paras Ram Reddy, Maciusela Lumelume, Ratu Jone Qomate, Akisi Vinaka, Jawahar Lal (who joined on November 17, 2023), and Solomone Nata (who was appointed on April 5, 2024). Notably, Prakash Chand retired in July 2023, and Pradeep Lal resigned on October 5, 2023.
The report emphasizes the board’s commitment to transparency and corporate governance, stating, “The board supports a strong disclosure regime, acknowledging transparency as a key element of an effective corporate governance system.” It outlines the importance of providing timely and accurate information related to the corporation’s financial results, objectives, major share ownership, voting rights, director remuneration, and foreseeable risk factors.