Our Star of the Week is the CEO of Nored, Fillemon Nakoshole. The company declared dividends of N$7 million to shareholders.
Nored made the announcement during its general meeting held in Ongwediva on Wednesday. The dividend paid is for the financial year ended June 30 2016.
At the company’s 14th annual general meeting it was highlighted how the board of directors and management have taken care of duties entrusted to them.
Nored assured shareholders that it was not an easy period for the industry as a whole, because it was faced with various challenges including power constraints in SADC region.
However, Nored announced in the meeting that the board’s relationship with the CEO and executive management team is transparent, supportive and aligned around organisational priorities.
Over the past year the directors have spent time with the management team, which enabled the company to get to know its employees and have a deeper understanding of the business.
The board of directors spent time in some local communities to gain an appreciation of the environment in which employees live and work, and understand what is important to them.