Tag: Parmi Natesan

The recent testimony at the Zondo Commission by Dudu Myeni (former Chair of the SAA Board) and Yakhe Kwinana (former Chair of SAA Technical) should be a wake-up call both for directors and the government.

A recent tweet made by a director of Cricket South Africa relating to a cancelled sponsorship highlights an issue for South African boards: the risk represented by social media. Social media has become a key communications channel, but poses particular risks for organisations and especially their directors.

Although it’s recommended in King IV, succession planning is often neglected because it’s an uncomfortable subject. The COVID-19 crisis should act as a wake-up call for organisations to ensure not only that they have a plan to govern an orderly succession for key senior posts, but also an emergency back-up plan.

Poor governance practices, poor oversight and a lack of accountability lie at the heart of state capture and the large-scale corporate fraud that has dominated newspaper headlines in South Africa over the last three years. It is precisely due to the weaknesses in the governance structures and systems that dishonest and unethical leaders have been able to plunder state resources and commit fraud.

An interview with Parmi Natesan, CEO, The Institute of Directors in Southern Africa (IoDSA), and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing how boards need to take the lead in steering their organisations through crisis brought about by COVID-19.

The COVID-19 emergency has prompted much media coverage, panic in some quarters and severe market falls. At a time like this, it is vital that organisations act rationally.

One of the elephants in the room at this year’s State of the Nation Address (SONA) was the conspicuous absence of any mention of the need to appoint the right people to the boards of state-owned enterprises (SOEs).

Where an attorney had acted in two litigation matters whilst not holding a fidelity fund certificate that is compulsory for all practising attorneys, it was held that the litigation was not a nullity.

Non-executive directors (NEDs) are responsible for making critical strategic decisions and for overseeing the management of a company without the benefit of observing the business on a full-time basis. This requires particular skills, knowledge, experience and business judgement, for which they need to be fairly remunerated.

The recent ransomware attack suffered by the City of Johannesburg sounds a clarion call for boards to revisit their technology governance strategies and take a more holistic view of technology and the risk it poses.