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BLUE LABEL INTEGRATED ANNUAL REPORT 2014
GOVERNANCE FRAMEWORK
Board
of directors
Shareholders
via AGM
Executive Committee
Transformation,
Social and Ethics
Committee
Investment
Committee
Remuneration and
Nomination Committee
Audit, Risk and
Compliance Committee
Internal Risk and
Compliance Committee
External audit
Subsidiary board
Internal audit
GOVERNANCE
FRAMEWORK
2014
The Board regards governance as a fundamental
essential for the success of the Group’s business. It is
committed to applying the principles of good
governance in directing and managing the Group
in order to achieve its strategic objectives. The Board
is the focal point for, and custodian of, the
Group’s governance framework, supported by its
committee structures, relationship with management,
shareholders and other stakeholders of the Company.
The Board is ultimately accountable for the
performance and affairs of the Company.
The governance framework facilitates a balance
between the Board’s role of providing direction and
oversight with accountability to support acceptable
risk parameters, consistent compliance with
regulations, standards and codes relevant to the
Group, while encouraging entrepreneurial and
innovative spirit, which are key drivers of Group
performance. In the operating subsidiaries,
governance processes are aligned with the
governance framework established by Blue Label.
Each subsidiary Company has its own Board of
directors and its strategy, business plan and
performance criteria are clearly defined. The strategy
and business plan of each subsidiary are presented to
the Blue Label Board by the subsidiary’s management
each year. Subsidiary boards comprise executive and
non-executive directors, some of whom are executive
and non-executive directors of Blue Label.
AIRTIME