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GOVERNANCE AND RISK
58
Tiger Brands Limited Integrated Annual Report
2014
Approach to corporate governance and
ethical leadership
Tiger Brands is committed to the highest standards
of corporate governance and ethical and moral
business behaviour. This commitment is woven
through every aspect of the group’s management
structures at all of its operations. In all matters
that are considered by the board, the board is
cognisant of the fact that the directors and
management are custodians of the company
and its assets and manage them on behalf of
shareholders, who are the true owners of the
company.
Ethical practices are entrenched throughout the
organisation as the only acceptable behaviour.
The board sets the tone and standards in this
regard, which in turn filters down to executive
management and all employees. Tiger Brands
adopts a zero-tolerance approach to infringements
of governance and ethical standards at all levels
of the company.
The group’s approach is strictly adhered to in
each country in which it operates. Governance
processes, such as audit, risk and remuneration
committees and ethics lines are in place at each
subsidiary across Africa. In addition, management
operates in terms of a delegation of authority
matrix that is formally approved by the board.
Good governance is a fundamental prerequisite
for any considered new investment of the group
within South Africa, across Africa or elsewhere.
Corporate governance