THE CHAIRMAN’S
FUNCTION AND ROLE
The Chairman of the Board is a non-executive director who is
appointed by the Board on an annual basis. Mr Danie Minnaar is the
Chairman and has empowered the Board Committees to deal with
the extensive duties of the Board.
The roles of the Chairman and Managing Director are separated.
The Chairman is supported by an independent Vice-Chairman,
Mr Steve Booysen, who also chairs the Audit and Investment
Committees.
THE ROLE AND
FUNCTION OF THE
MANAGING DIRECTOR
AND EXECUTIVE
COMMITTEE
COMPANY SECRETARY
The Company Secretary assists the Board in performing its various
duties. Newly appointed directors undergo an appropriate induction
process, presented by the Company Secretary, which contains
various elements.
As required in terms of the Companies Act, the Company Secretary
supervises compliance with legislation throughout the Group.
Appropriate structures have been established to ensure compliance
with legislation.
Access to information
The Group complies with the Access to Information Act, 2000 and a
manual is available on the Senwes website.
Members have access to the shares register, minutes of members’
meetings and information regarding a number of Group matters.
Any enquiries can be addressed to the Company Secretary as chief
information officer.
The Group’s daily corporate and management functions are dealt
with by the Managing Director.
The duties of the Managing Director are to execute the strategies
and policies, as approved by the Board, to manage the business
and to execute instructions of the Board. The Managing Director is
supported by a Management team of 10 members, which form the
Executive Committee.
COMMITTEES
Functions and mandates
The Board established various committees to facilitate effective
decision-making and to assist it in the execution of its duties and
powers. The committees function in a transparent manner and
report to the Board on a regular basis. The powers and execution
of the responsibilities of each committee are arranged by formal,
written mandates which are approved by the Board each year.
The current Board Committees are as follows:
• Audit Committee;
• Remuneration Committee;
• Risk Committee;
• Social and Ethics Committee;
• Nomination Committee; and
• Investment Committee.
The chairmen of these committees report formally against their
mandates and ensure that the duties of the committees are executed
properly.
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The Board is guided by
corporate best practices
as contained in the King
Reports on Corporate
Governance (King III).