9.9.3 Should no comments be received by 12:00 midday on the 6th (sixth) business day following circulation, the company secretary The executive committee comprises 12 members. at meetings of the Board and relevant Board committees. Memorandum of Incorporation. We believe this policy encourages our executives to broaden their skills base and experience. on in the King IV Code and listed in Annexure A hereto and regards these as fundamentally important to the business success and Kamal was previously with AB-InBev Africa as director: strategic projects since 2016. The board is satisfied that Tiger Brands applied all the recommended King IV principles in FY18. consideration to issues such as the preservation of business relationships and costs, both in money and time, especially executive time, Chief human resources officer by rotation on an annual basis. Deepa Sita will join the company as Chief Financial Officer and Executive Director on Oct. 1, 2020 (news posted on July 27 2020). The audit committee was chaired by an independent non-executive director, Rob Nisbet, who stepped down as director and accordingly as a member and chairman of the audit committee on 7 September 2018. The Company may, for the purpose of a special assignment, engage the services of a non-executive director (specific field of expertise) as possible. prevail. Prior to that, he spent 17 years at South African Breweries (SAB) serving as executive director: sales/distribution, executive director: HR as well as president of SAB, post the AB-Inbev acquisition. Non-executive director of Oceana Group and Empresas Carozzí (Chile). 16.3 Management is responsible for implementing the required mechanisms to identify and manage compliance in the Company and the Group Co-founder and CEO of MASA Risk Advisory Services. 2.6 Dealing with conflicts of interest which may arise, ensuring compliance with all internal and external legal requirements. Tiger Brands Limited manufactures, processes, and distributes food products which include milling and baking, confectioneries, general foods, edible oils, and derivatives. 7.2.3 a balanced distribution of power in respect of membership across committees, so that no individual has the ability to dominate Our deepest and heartfelt thoughts remain with those who lost their loved ones and who are otherwise affected by this crisis. The org chart of Tiger Brands contains its 27 main executives including Noel Doyle, Deepa Sita and Luigi Ferrini. The company The nominations committee proposed the re-election of all retiring directors after a satisfactory performance review in 2.4 There should be a clear division of responsibilities between the executive responsibility for the running of the Company’s business and complied with. A remuneration report shall non-executive directors, most of whom shall be independent as defined in the King IV Code. and standards in a way that supports the organisation being ethical and a good corporate citizen, Principle 14: Remuneration governance – The Board should ensure that the organisation remunerates fairly, responsibly and transparently be reported on in the integrated report. Governance structures, policies and standard operating procedures continue to be embedded in the organisation. to vote or be counted for quorum purposes. 15.1 The Board subscribes to the principle that both internal and external disputes should be resolved as effectively, efficiently and expeditiously The board is satisfied with the level of experience Appointed: May 2016 The board sets the tone for the organisation which, in turn, directs our daily activities. 11. Tiger Brands is one of the leading mass consumption product distributors in South Africa. Dr Khotso Mokhele completed 11 years of service as a non-executive director on 30 September 2018. Principle 1: Leadership – The Board should lead ethically and effectively, Principle 2: Organisational ethics – The Board should govern the organisation in a way that supports the establishment of an ethical culture, Principle 3: Responsible corporate citizenship – The Board should ensure that the organisation is and is seen to be a responsible corporate Company as holding company in the operations of the subsidiary company should be a matter for the board of the subsidiary company to There shall at all times be a majority of Declaration & Conflict of Interest Policy This comes at the time South Africa faces the largest Listeriosis outbreak in history. 4.1.3 approving policy and planning that gives effect to value creation; 1.3 The re-appointment of the chair shall be considered biennially by the Board, based on the outcome of the formal evaluation process. Non-executive director of Dis-Chem and Mr Price Group and director of Signall Mill Products. duties. Chief growth officer: Grains and Consumer Brands The necessary framework, systems, policies and processes are in place to ensure all entities adhere to essential group requirements and minimum governance standards. 3. other relevant committees of the Board, with an annual report on compliance being submitted to the Board via this committee. Tiger Brands Limited is a South African packaged goods company. Our subsidiaries have established footprints in corporate and financial services, property development and real estate. satisfied with the advice received, seek independent professional advice at the Company’s expense in the furtherance of their duties as 34 years with the group The following directors will retire, and are eligible for re-election, at the company's next annual general meeting (AGM): Maya Makanjee, Makhup Nyama and Emma Mashilwane. Any term in office by an independent non-executive director exceeding nine years is subject to a rigorous review by the board. to make informed decisions on matters placed before the Board or Board committee; Appointed: April 2018 The company's memorandum of incorporation requires that one-third of directors must retire each year, beginning with those who have been in office the longest. and competency of committee members. 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. 9.2 The company secretary shall be required to facilitate the process of setting the agenda for each meeting as agreed with the chair and 9.8 The Board’s discussions shall at all times be open and constructive. the leadership of the Board, such that no one individual has unfettered powers of decision-making. set out below. This includes promoting equality, preventing unfair discrimination, contributing to community development and monitoring the company's activities in terms of relevant legislation and prevailing code of best practices. The Tiger Brands board of directors is committed to integrity through effective corporate governance. The Board shall be entitled to adopt and approve such procedures and policies as it may deem necessary to ensure proper governance and considering the above mentioned principles. Previous roles included group finance director of CG Smith Ltd and CG Smith Foods Ltd, Reunert Ltd and Barlow Rand Ltd (now Barloworld). or potential conflict; This responsibility shall be undertaken on behalf of the Board by the Risk Committee, in cooperation with The succession plan should include the identification, mentorship and of the meeting shall circulate the minutes to the Board/Board Committee for comment and approval; In addition to the company's South African operations, Tiger Brands also has direct and indirect interests in international food businesses in Chile, Zimbabwe, Mozambique, Nigeria, Kenya and Cameroon. Clive retired as an executive director on 20 February 2018 after serving on the board of Tiger Brands since February 2000. Noel Patrick Doyle is Chief Executive Officer at Tiger Brands Ltd. See Noel Patrick Doyle's compensation, career history, education, & memberships. Further enhancements will be made, in line with the board's objectives to continuously improve corporate governance practices. On 20 February 2018, Clive Vaux retired as an executive director. and that of its committees, its chair and its individual members, support continued improvement in its performance and effectiveness, Principle 10: Appointment and delegation to management – The Board should ensure that the appointment of, and delegation to, 7.5.5 may be a member of the Social, Ethics and Transformation Committee but not its chair. Appointed: May 2018 Independent non-executive director of Liberty Holdings, Liberty Group, Albaraka Bank and Gold Fields, chairman of Sulfam Holdings, trustee of Liberty Holdings Group Participatory Share Trust, Liberty Two Degrees Restricted Participatory Interest Trust and Sulfam Trust. 1.1 Shareholders of the Company ("Tiger Brands Shareholders") are referred to the Company's 2018 audited results announcement released on 22 November 2018 wherein the board of directors of Tiger Brands ("the Board") advised The Board shall adopt, approve and regularly review a policy in respect of the dissemination of Company information in order to regulate The Board should 7. Special adviser to the minister of Science and Technology and chancellor of the University of the Free State. Any director may, in consultation with the chair, request additional Board Executive: Corporate finance Chief marketing officer 13.3 A director shall give prior written notice to the chair, with a copy to the company secretary, of his intention to seek independent professional She essentially has extensive food experience across all continents. summary of the subject matter. categorisation. Letâs hope that the Tiger Brands Board make the required changes at the helm to put Tiger firmly back on the road of performance, growth and positive contribution and take a leaf out of Cricket Australiaâs book. 2.13 Ensuring that Board decisions are executed. Board and the directors. Appointed: July 2018 Each 2.7 The Board, with the assistance and guidance of the Nomination and Governance Committee, shall on an annual basis consider its size, Assists the board in risk management, which includes IT governance, and reports to the audit committee and board New appointments to Tiger Brands board . 7.3 The committees shall be chaired by an independent non-executive director and the majority of committee members shall be independent The social, ethics and transformation committee's activities are set out here. Yunus Suleman has been a member since he joined the board in July 2015. The performance, independence and qualifications of the company secretary shall be evaluated by the Board at least annually and The board operates in line with its formally approved charter which ensures its activities conform to sound corporate governance principles. 1.3 To guide its effective functioning the Board approved this charter (“the charter”), the provisions of which shall at all times be subject to all Appointed: February 2017 particularly in African operations. Resigned: 31 August 2018. relationship which, when judged from the perspective of a reasonable and informed third party, is likely to influence unduly or cause bias 2.1 The Board subscribes to a unitary board structure with executive and non-executive directors. Appointed: August 2012 No major concerns were raised on the functioning of the board or any of its committees. 13.6 Any advice obtained under these provisions shall be made available to the other directors if the Board so requests. independence of independent non-executive directors who have served for more than 9 years and the outcome of such assessments will The board looks forward to benefiting from her insights and perspectives. as well as relevant commercial considerations. Chief supply chain officer 2.10 The independence of all independent non-executive directors will be assessed on an annual basis with a specific focus on the 1. 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.
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