Integrated Annual Report 2019

Organisational governance

Strong corporate governance is an essential part of minimising the risks faced by the group. Corporate governance and risk management not only enhance sustainability of the group, but are essential to preserving organisational reputation, investor confidence, access to capital when required and sustainable employee motivation.

Ethics

Ethical issues are managed by way of executive involvement in day-to-day management processes

The group has adopted a code of ethics

4
meetings

Committed to principles

  • Corporate discipline
  • Transparency
  • Independence
  • Accountability
  • Fairness
  • Employment equity
  • Social responsibility

93%
attendance by members

Board of directors

Composition

10
directors

5
executives

5
non-executive and independent

2
female

Key roles and functions

CEO

The CEO assumes ultimate responsibility for all executive issues

CFO

The CFO assumes responsibility for the group's financial position and related issues

Lead independent director

The lead independent director provides leadership to the independent directors, and liaises with the CEO on behalf of the independent directors

Committees

Audit and Risk

Monitors the risk profile, reviews and approves financial statements and monitors, supervises and facilitates the work performed by independence of internal and external auditors

3 non-executive and independent
3 meetings
100% attendance by members
Social and Ethics

Monitors the group's activities relating to any relevant legislation affecting the group's activities and prevailing codes of best practice

2 non-executive and independent
2 executives
2 meetings
100% attendance by members
Remuneration

Recommendations on the broad framework and cost of executive remuneration are made annually to the committee for approval

2 non-executive and independent
1 executive
3 decisions made by round robin      resolutions