corporate governance
transformation committee
The group is committed to the spirit and principles of broad-based black economic empowerment (BEE). Given the importance of BEE, there is a transformation committee which assists the board in ensuring there are appropriate strategies, policies and processes in place to progress transformation.
The committee consists of four non-executive directors and the Chief executive officer. The Chairman of the committee is Chris Nissen. The responsibilities of the committee include:
- Reviewing and approving targets for each element of the BEE scorecard; and
- monitoring and assessing the policies and plans in place to achieve the targets and assessing the effectiveness thereof.
The details of individual attendance at the transformation committee meetings are set out here.
The transformation committee assesses performance in each area of the BEE scorecard to ensure that meaningful progress is made.
The transformation framework is set out below and is designed to ensure that:
- There are clear and agreed targets for the group and each business area;
- achievement of targets is a key component of the reward and recognition system; and
- there is ongoing monitoring which enables the executive to review progress and, if required, revise the strategy.
