Corporate Governance
At Mastek, we embrace the power of clear and effective governance as the cornerstone of our management philosophy. Our policies and principles intricately shape our goals, elevate risk management and propel us toward performance excellence. Entrusted with steering the company’s vision and ensuring seamless oversight, our global leadership team diligently charts our strategic course and upholds efficient administration.
Why it Matters to Us
Mastek’s commitment to stakeholders goes beyond numbers-it’s about the trust and confidence we earn. This trust isn’t just a reflection of our financial strength; it’s a testament to our operational excellence. Our governance policies, led by the board and committees, are built on principles that emphasize ethical conduct, outstanding corporate governance and an unswerving commitment to transparency and responsibility.
Our Approach
Our corporate governance stands as a testament to our unwavering commitment to integrity and excellence. Fueled by a dedication to transparency, we voluntarily embraced SEBI’s BRSR mandate since 2021, propelling us into the ranks of the top ten companies in India acknowledged for sustainability efforts by SASB. Our proactive stance is further illuminated by our participation in the CSA (DJSI) by S&P Global, underscoring our devotion to superior corporate responsibility. Subsequently, we are also actively participating in the UN Global Compact, supporting its 10 principles on Human Rights, Labor, Environment, and Anti-corruption. Our company also follows the TCFD guidelines to disclose climate-related risks and opportunities, demonstrating transparency and accountability in its climate strategy.
Our governance foundation is fortified by an impeccable track record of data security-zero breaches—and a strategic commitment to enhancing shareholder value. Leadership shines with independence, boasting a non-executive chair and predominantly Independent Directors, guaranteeing impartial governance. This commitment to autonomy extends seamlessly to our subsidiary boards, each empowered with local, independent directors propelling Mastek’s vision for an ethical and transparent future.
Operational Governance
This is at the heart of every crucial decision and business transaction – while dealing with confidential information of customers, shareholders, partners and employees; and ensuring compliance with anti-corruption laws of different geographies. These governances form the charter and terms of reference of the board, its committees and management committees. Our employees go through mandatory training in all areas of governance every year. And it doesn’t end there. Every year, our employees undergo mandatory training, delving into various aspects of governance. At Mastek, we see staying ahead in governance not just as a duty but as our pledge to a secure, ethical and thriving future.
Third-party Governance and Risk Management
Why is it Important to Us?
The third-party ecosystem is more than just a support system; it’s our key to meeting the unique needs of our diverse customers across various industries and geographies. Efficiently managing these partnerships isn’t just about gaining a competitive edge; it’s our shield against potential costs and reputational damage. In a world where collaboration is key, mastering the art of third-party relationships is our ticket to success.
How are we Responding?
Mastek is committed to coordinating a well-balanced blend of metrics, oversight and outcomes in our third-party engagements, ensuring seamless alignment with our corporate policies. This meticulous approach guarantees uniformity across our risk and performance management frameworks. We delve deep into the evaluation of third-party risks, examining business agreements, timeliness and intrinsic vulnerabilities from various perspectives. These thorough assessments serve as our strategic guideposts, steering essential adjustments within our third-party network. This not only bolsters our customers’ trust in our competence but also underscores our reliability. At Mastek, we don’t just manage third-party engagements; we conduct orchestrated partnerships grounded in precision and trust.
Details About Mastek Board of Directors
3 Independent Directors on the Board
95% Average attendance rate at Board meetings
64 Median Director age
17% of the Board Experience are aged between 21-30 years
83% of the Board Experience are aged above 30 years
83% of Board members are aged between 45-70 years
17% of Board members are aged above 70 years
Diversity and Independence
28% women employees
13% Women in the Executive Leadership Roles
100% Women rejoined post maternity break
50% of the Board comprises of Independent Directors
33% of Independent Directors on the Board are women
36.26% consist of Promoter Shareholding
Incidents and Outcome
- No incidents of insider trading.
- No fines/penalties related to anti-competitive monopoly and anti-trust practices.
- No incidents of Money Laundering.
- Zero incidents of customer data privacy and cyber security breaches.
- No incidents of Corruption or Bribery, Discrimination or Harassment.
- Zero incidents of Conflict of Interest.
- Zero total amount of monetary losses due to legal proceedings associated with user privacy.
- Zero number of users whose information is used for secondary purposes.
- No contribution to political parties to influence policies.
Policies to Support best Practices of Corporate Governance
Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information
Sustainability Policy
Risk Management Policy
Related Party Transaction Policy
Policy on Determination of Materiality for Disclosure of Events or Information
Policy for Determining Material Subsidiaries:
Succession Planning, Nomination & Remuneration Policy for Board of Directors, Senior Management Personnel and Key Managerial Personnel
Mastek Group Tax Strategy:
Human Rights Policy Statement
Group Whistleblower Policy
Environment, Health and Safety Policy
Dividend Distribution Policy
Corporate Social Responsibility Policy
Code of Conduct for Prevention of Insider Trading
Code of Conduct for Senior Management
Code of Conduct for Directors
Code of Business Conduct & Ethics Policy for UK
Code of Business Conduct & Ethics Policy for India APAC
Policy on Board Diversity
Archival Policy for Disclosures to Stock Exchange
Anti-Bribery and Corruption Policy (Global)
Data Protection Policy:
Gender Pay Gap Report