Standard of conduct of a director

When assessing the conduct of a company director, three key areas are relevant, namely the: acceptable standards of conduct of a director, his/her fiduciary duties and the risk of being classified as a delinquent director. Standards of director conduct The Companies Act of 2008 as amended (the “Act”) defines the standards of conduct of a […]

Alternate Directors

The directors serving on the boards of a number of listed issuers have nominated alternate directors to serve in their stead when they are unable to attend. The articles of association of issuers under the 1973 Companies Act usually permitted a director to appoint his or her alternate with the approval of the board of […]

The independent non-executive director

An independent director.  Who is it? When are you truly independent of the company and/or other members of the board? The following definition of a person who is an independent director on the board of an entity, is reproduced with consent from Ratings Afrika. Independent director: The term an independent director in our opinion is […]

The Bidvest Group: Re-appointment of auditor

The upcoming AGM of The Bidvest Group raises an important issue. Resolution 3 to be voted on by shareholders deals with the appointment of PwC as auditors, and carries a note to the effect that its re-appointment as auditor each year would in future be automatic. Shareholders will not be asked to vote on the matter, […]

WPP board facing irate shareholders…..

WPP is one of the world’s largest communications services groups. WPP plc (LON:WPP) annual general meeting held today (13 June 2018) was a feisty affair, with Sky News reporting that more than a quarter of investors have cast votes against a pay report, angered by benefits for the advertising giant’s former chief executive Martin Sorrell. […]