The group’s board and management are committed to, and are responsible for applying the principles of good corporate governance. We subscribe to these principles to ensure that our group is being managed within acceptable risk parameters, which creates sustainable growth and value for the benefit of all our stakeholder groups.
The Audit & Risk committee (ARCO) monitors corporate governance within Stefanutti Stocks while the Social & Ethics committee (S&E) oversees the monitoring of and reporting on sustainability and ethical behaviour within our group. Our board appreciates that strategy, risk, performance and sustainability are inseparable. Our group endorses the Companies Act, together with the principles of the South African Code of Corporate Practices and Conduct as recommended in King III and we continue to refine the process of implementing these recommendations.
We also adhere to and support the ongoing disclosure on corporate governance including those contained in the JSE Listings Requirements as required by the JSE.
Our comprehensive board charter, which is reviewed annually, details our board’s responsibilities and terms of reference. It has been developed to enable our directors to maintain effective control over strategic, financial and compliance matters of the Stefanutti Stocks group. Our board is accountable to the shareholders and it directs our group to achieve profitability by exercising good judgement, strong leadership and acting with integrity at all times.