Corporate Governance

Letter from the incoming chairman

My first responsibility as the incoming chairman of Aveng is to acknowledge the role of my predecessor Angus Band, particularly in guiding us into a new era of governance. On behalf of my colleagues on the Board, I thank Angus for the diligence, thoughtfulness, insight and energy with which he has served the company for nine years. I also look forward to his continued participation on the Board. 

Governance provides the framework and processes intended to achieve our strategic objectives. Significant failures of governance globally have brought into sharp relief the need to equate it with much more than these mechanisms. Good governance is participatory, transparent and accountable. It encompasses every sphere of our business, and should seek specific outcomes as we endeavour to achieve our strategic objectives effectively and ethically in the markets and communities in which we work.

There are a number of material issues that are exercising my mind and the collective mind of the Board in the challenging and complex environments in which we execute our strategy.

In particular (but without intending to limit the importance of our other material issues), the Board routinely reviews the company strategy and monitors its execution to ensure that the strategy remains relevant in constantly changing market environments. We continue to address the our risk management foundation to ensure that the right executive and operational leadership is in place, empowered not only by reliable systems that are entrenched within the organisation, but also appropriate levels of authority and accountability. Our inward focus is on ensuring that the composition of the Board encompasses an adequate depth of knowledge and diversity of experience to enable the Board to serve the Group effectively in its markets.

Mahomed Seedat