The Board embraces the King IV™ outcomes of an ethical culture, effective control, good performance and legitimacy. Our approach to corporate governance is far more than simply an exercise in compliance with King IV™. Rather, it confirms that best practice principles are effectively applied and embedded by the company in its daily activities, so creating both short and long-term value for all stakeholders.
During the year, comprehensive work was done to align the Tongaat Hulett Corporate Governance Manual and Framework, Board charter, committee terms of reference, codes of best practice and policies to King IV™. Additionally, the corporate governance report has been aligned to King IV™, the Companies Act 2008, the Listings Requirements of the JSE Limited (JSE), and other pertinent statutes and regulatory requirements guiding the Board’s and company’s conduct.