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BLUE LABEL INTEGRATED ANNUAL REPORT 2015
Chapter and principle
Comments on application
The induction and ongoing
training and development of
Directors should be conducted
through formal processes
Induction programmes for new Directors are tailored based on
the knowledge and experience of the Director and focus on
providing information on the Board structure and the Group’s
strategy and operations. Ad hoc presentations are made to the
Board by professional advisers and Senior Management to
ensure that the Board is up to date with governance, regulatory
and operational developments.
The Board should be assisted by a
competent, suitably qualified and
experienced Company Secretary
The role and function of the Company Secretary is in line with
the requirements of the Act, governance principles and
JSE Listings Requirements.
The evaluation of the Board, its
Committees and the individual
Directors should be performed
every year
1. Performance evaluations of the Board and its Committees
takes place every other year, as opposed to annually as
recommended by King III. The Board is satisfied that
evaluations every other year, as opposed to annually, are
appropriate for the business;
2. Evaluations regarding the performance of individual Executive
Directors take place annually, once during remuneration
increase and performance bonus award periods and, as
applicable, prior to the AGM regarding the re-election of
Directors; and
3. Evaluations regarding the performance of individual
Non-Executive Directors takes place annually (in respect
of those standing for re-election at the AGM) and every
other year for the remainder (as part of the Board and
Committee evaluations).
KING III SUMMARY
CONTINUED