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BLUE LABEL INTEGRATED ANNUAL REPORT 2015
The Board regards governance as a fundamental
essential for the success of the Group’s business. It
is committed to applying the principles of good
governance in directing and managing the Group in
order to achieve its strategic objectives. The Board is
the focal point for and custodian of the Group’s
governance framework, and is supported by its
committee structures, management, shareholders
and other stakeholders of the Company. The Board
is ultimately accountable for the performance and
affairs of the Company.
The governance framework facilitates a balance
between the Board’s role of providing direction and
oversight with accountability to support acceptable
risk parameters, consistent compliance with
regulations, standards and codes relevant to the
Group. At the same time the Board encourages
entrepreneurship and innovation, which are
recognised as key drivers of Group performance. At
the operations, governance processes are aligned
with the governance framework established by Blue
Label. Each subsidiary company has its own board of
directors and its strategy, business plan and
performance criteria are clearly defined. The strategy
and business plan of each subsidiary are presented
to the Blue Label Board by the subsidiary’s board
each year. Subsidiary boards comprise executive and
non-executive directors, some of whom are
executive and non-executive directors of Blue Label.
GOVERNANCE FRAMEWORK
GOVERNANCE FRAMEWORK
Executive
Committee
Remuneration
and
Nomination
Committee
Investment
Committee
Social, Ethics
and
Transformation
Committee
Audit,
Risk and
Compliance
Committee
Internal
Risk and
Compliance
Committee
Internal
audit
External
audit
Subsidiary Board
Shareholders
via AGM
BOARD
OF DIRECTORS