allocation of roles and associated responsibilities and the composition of membership across committees holistically so as to achieve the Company. 14.2 To the extent provided for in the formal delegation of authority framework, adopting and implementing policies and procedures of the This entails selecting a dispute resolution method, where possible, that best serves the interests of the Company, giving 5.1.4 act ethically beyond mere legal compliance; Out of the 10 packets, 6 was fine in regards salt levels, however packet 7 was an exception and once again laden with salt, so all my chia seeds and Omega 3 seeds and banana also got wasted. in the strategic planning process, and made recommendations to the board on disinvestment proposals. out below. The chair shall approve the rationale and direct to the company secretary to assist. 6.2 Tiger Brands Board of Directors Although ultimate accountability for the Human Rights Policy resides with the Tiger Brands Board of Directors, the Board of Directors has granted authority to the Chief Executive Officer to act on its behalf in matters relating to Human Rights. She held various human resources leadership positions in Sasol since 2008, locally and globally. Nick Wentzel (45) - BCom, CA(SA) Chief Executive Officer Appointed Divisional Chairman of Tiger Agri-Poultry in 1995 and in 1997 appointed Divisional Chairman of Tiger Milling and Baking â¦ declaration of all financial, economic and other interests held by the director and related parties. Anti-Bribery & Corruption Policy, 2.1 Setting the ethical tone for the Board and the Group. Diversity Policy as possible. advice under this procedure and shall provide the name(s) of any professional advisers he proposes to instruct, together with a brief Africa, 2016 (“King IV Report”), which includes the King IV Code on Corporate Governance (“the King IV Code”). 10.2 Trading in company equities 5.1.11 continuously develop his competence to lead effectively; Chief corporate affairs and sustainability officer consider and approve, if the subsidiary company’s board considers it appropriate. ... Board Members. After taking into account, among other considerations, the extent to which the diversity of his views, skills and experience continue to enhance the board's effectiveness, the board is satisfied that Dr Mokhele's independence is not impaired by his length of service. There shall at all times be a majority of Clive retired as an executive director on 20 February 2018 after serving on the board of Tiger Brands since February 2000. 7.5.3 shall be a member of the Nomination and Governance Committee and may be its chair; Cookies help us improve your website experience. the board appointed Emma Mashilwane as chairman of this committee, with an additional independent non-executive director as a member, namely Mark Bowman. Kamal was previously with AB-InBev Africa as director: strategic projects since 2016. The committee met three times in 2018, with attendance set out below. Assists the board in monitoring and ensuring matters relating to organisational ethics, responsible corporate citizenship, sustainable development and stakeholder relationships are effectively managed. The Tiger Brands board is committed to the highest levels of ethical leadership and integrity, which are embodied in the company's values. The board operates in line with its formally approved charter which ensures its activities conform to sound corporate governance principles. 13.4 The company secretary shall, after consulting the chair, provide a written acknowledgement of receipt of the notification which shall state 4.7 The Board shall implement a formal governance framework in respect of subsidiary companies and other related entities in the Group. and authority and are adequately resourced. Marc previously held senior FMCG sales and customer marketing roles across Africa, south Asia and Australia, including customer vice-president for Unilever South Africa and India. preparation time ahead of each meeting to ensure that he is in a position to contribute to Board and committee discussions and confidence of new directors and encouraging them to speak and make a meaningful contribution at Board meetings; and The board is guided by the principles in the King IV Report on Corporate Governance, JSE Listings Requirements, Companies Act No 71 of 2008 and other relevant laws and regulations. to and agree on the appropriateness of such appointments, taking into account the size, time required and complexity of all organisations. of the organisation’s performance and its short, medium and long-term prospects, Principle 6: Primary role and responsibilities of the governing body – The Board should serve as the focal point and custodian of corporate Assists the board in risk management, which includes IT governance, and reports to the audit committee and board Under our formal policy, an executive member is limited to one substantive outside directorship. 8. Pieter was previously CEO of GWK Group. This common bacteria was said to be the cause of the NCC's action, with a massive impact on the food industry and the lives of consumers. REPORT SELECTOR: objectives, Principle 12: Technology and information governance – The Board should govern technology and information in a way that supports the Post-investment reviews of prior strategic investments are monitored closely. 7.2 The committees shall be appropriately constituted with due regard to the skills required by each committee. 07.14.2015. The King IV register The Board shall be entitled to adopt and approve such procedures and policies as it may deem necessary to ensure proper governance The CEO and his leadership team are empowered to lead and manage the execution of all board-approved strategic objectives and overall direction for Tiger Brands, guided by an approved delegation set out below. 2.1 The Board subscribes to a unitary board structure with executive and non-executive directors. Other than the chief executive officer and (in respect of the limited independence of independent non-executive directors who have served for more than 9 years and the outcome of such assessments will 13.5 In the event that the fees of independent professional advisers per assignment are likely to exceed R50 000-00 (fifty thousand Rand) the The board is satisfied that Tiger Brands applied all the recommended King IV principles in FY18. 1.2 The board of directors of Tiger Brands Limited (âthe Boardâ) fully subscribes to the principles of good corporate governance, as elaborated on in the King IV Code and listed in Annexure A hereto and regards these as fundamentally important to the business success and sustainability of the Company and the Group. In the annual review process, which was conducted internally in 2018, the directors confirmed that all committees had fulfilled their obligations for the period and operated within their terms of reference. 2.4.4 ensuring that the on-going effectiveness and development of the Board, Board committees and individual directors is reviewed annually. of authority. as possible options in the resolution of both internal and external disputes, before approaching a court of law, but only when appropriate directors, subject to the procedures and limitations as set out below. 3.4 Independent non-executive directors may continue to serve as such for longer than 9 (nine) years if, upon an assessment concluded 5.1.13 actively participate in and contribute to Board deliberations in a constructive and frank manner under the leadership and guidance Patrick has over 30 years of experience in FMCG, including as supply chain vice-president for Unilever South Africa. For while the costs associated with cost of goods, selling, general and administrative and debt all increased as a percentage of sales, the 3.06% growth in revenues contributed â¦ And so do the families who lost their loved onesâ¦ Emma Mashilwane appointed from 2 November 2018, Assessed the composition of the board to ensure it is appropriately structured, skilled and staffed to enable directors to efficiently execute their mandates, Monitored the execution of diversity policies for the group and board, noting the progress in raising the diversity profile from 54% black representation in FY17 to 60% in FY18, Monitored group succession plans, noting good progress on CEO succession plans, Assisted with performance evaluations of the board and its committees, directors retiring by rotation, and the performance of the board chairman, Assisted the board in evaluating performance of the CEO. situations and succession over the longer term) and periodically review these plans. Chief strategy officer Chief growth officer: Exports, International and Snacks, treats & beverages 4.1.4 overseeing and monitoring of implementation and execution of strategy by management; and Special adviser to the minister of Science and Technology and chancellor of the University of the Free State. On 4 March 2018, the National Consumer Commission (NCC) issued a directive to Tiger Brands to recall specific ready-to eat and ready-to-cook products. 8.1 The Board shall appoint and remove the company secretary and empower the company secretary to enable him to properly fulfil his In executing its mandate, the board reviews business models to ensure they support value creation, ensures that an effective systems of risk management and internal controls are in place, and establishes a culture of ethical leadership across the group. 4.1 The Board shall serve as the focal point and custodian of corporate governance in the Group and shall exercise its leadership role by: 4.1.1 Approving the definition of value creation and oversee that value is being created for stakeholders by executive directors and following: 7.2.1 effective collaboration through cross-membership between committees, where required; coordinated timing of meetings; and Gifts, Entertainment & Hospitality Policy statutory and regulatory requirements, including the JSE Listings Requirements and the Company’s Memorandum of Incorporation. Tiger Brands Limited (JSE: TBS) is a South African packaged goods company. the effectiveness of assurance services and functions, with particular focus on combined assurance arrangements, including external assurance service providers, the finance function and internal audit. of good corporate governance in all dealings by, in respect and on behalf of, the Company and furthermore to set out the roles and 4. Stakeholder Relations and Communication Policy The investment committee is chaired by the chairman of the board, Dr Khotso Mokhele, supported by two independent non-executive directors, namely: The committee met twice in 2018, with attendance set out below. Board Member Tiger Brands Defined Contribution Pension Fund. matters set out herein and other matters directly relating to the Board) the company secretary, no executive reports to him other than through the Board. Director of Marsh Inc, Zensar SA, Makhup Properties, Kapela Holdings and its subsidiaries. 2.13 Ensuring that Board decisions are executed. Attendance is set out below. • Principle 9: Evaluations of the performance of the governing body – The Board should ensure that the evaluation of its own performance particularly in African operations.