Tag: Parmi Natesan

The delinquency provisions in the Companies Act are emerging as a key remedy against misconduct by directors in both the public and private sectors. What we have seen recently is that these delinquency provisions are increasingly being used to hold directors to account for misconduct. Directors must take note of this, because the penalties are extremely severe.

Chief Justice Mogoeng Mogoeng, during his address at The Directors Event in Sandton, highlighted the issue of board and other leadership appointments in the public sector.

The recent announcement of President Ramaphosa’s new cabinet provides a good opportunity to reflect on the critical role of ministers in the governance of the public sector. The work we have done in the public sector over the years revealed some common governance challenges.

Governing bodies, and the role they play, are under the spotlight like never before. How should members of governing bodies ensure that they are covering all the bases?

Recent news reports relating to the withdrawal of a non-executive director up for re-election due to his non-attendance at meetings for four years by Purple, a JSE-listed company, highlight one critical area of a director’s responsibility: the necessity to attend board meetings.

The recent IODSA’ panel discussion on directors’ duties in respect to climate change highlighted the increasing realisation that directors need to factor climate change into their governance deliberations about strategy, risk management, products and services.

The first reports and disclosures in line with King IV principles are beginning to appear. King IV is effective in respect of financial years starting on or after 1 April 2017. It would appear that certain organisations still require a deeper understanding of the implications of King IV’s 'apply and explain' approach.

In his much-lauded State of the Nation Address (SONA), President Cyril Ramaphosa devoted considerable attention to the challenge of rooting out corruption in government. The IoDSA has consistently argued that ethical institutions in both the public and private sectors alike are created from the top down, and that an organisation’s directors bear the main responsibility for ensuring that ethics are embedded in its DNA.

There are reports that SAA chair, Dudu Myeni, has recently missed several special board meetings, and that her colleagues on the board are taking...

Executive remuneration has become a symbol of inequality in today’s global economic order. Shareholders are becoming more active in demanding that executive pay is more closely linked to results and stakeholders want a broader focus on the context in which the organisation operates.