The Bank of Cyprus Group recognizes the benefits and necessity of having an adequately diverse Board which will include and make good use of differences in the skills, regional and industry experience, background, race, age, gender and other distinctions between Directors. Such differences will be taken into account when determining the optimum composition for an effective Board composition. All Board appointments will be made primarily on merit based on skills, ethics and experience and irrespective of colour, race, nationality /ethnicity, disability, age, gender, religion, sexual orientation, political opinion or any other unfair criterion. (The full policy forms part of the Board manual app 23).
Following the issue of the Group Diversity Policy in May 2015, the Board endorsed the recommended target set by the Nominations and Corporate Governance Committee for a minimum female participation of 40% in the Board as from year 2020. An action plan, which currently is in progress, was approved by the Nominations and Corporate Governance Committee in June 2016 describing the intervening actions leading to the accomplishment of this target.