By Larey van der Westhuizen, Managing Director of Statucor
Johannesburg, 12 May 2015 – Privately owned companies would benefit greatly from having fully independent, non-executive directors on their boards, providing them with objective input, insight and oversight of their businesses.
Statucor and BDO, in association with MPowered, invite you to a series of interactive BEE Forums at which we will unpack the impact of the new BEE Codes, and how you can make them work for your business.
The forums will take place on 27 January, 4 March, 26 March and 15 April.
To attend or find out more, please click here
The 80-plus directorships that some board members in South Africa reportedly hold are a "physical impossibility" without cutting legal corners and doing the basic principles of good corporate governance injustice.
A private company is in essence a company whose shares are privately held by, for example, the company’s founders, a group of private investors or a subsidiary of a larger company. The main advantage is that the sale of shares is restricted and the shares cannot be offered to the public thereby protecting the shareholders’ interests.
The word Chairman is derived from the words "chair" and the Latin word "manus" meaning hand. The picture of a chief sitting in the chair and wielding a staff comes to mind. Much has changed and the chairman of today has to take into account the softer issues as well as the hard business issues.
In our recent director survey, a number of directors pointed out some guidelines: