Corporate Governance and
Risk Management

RCL FOODS is committed to ensuring that our company operates in an ethical, responsible manner. Corporate governance structures, processes and practices are managed and monitored by the Board to ensure that day-to-day operations within the Group as well as interaction with stakeholders, remains compliant with regulatory requirements of King III and maintains the highest ethical standards. The roles and responsibilities of the Board are set out in formal Board Charters which are reviewed annually.
In compliance with the Listings Requirements of the JSE Limited, RCL FOODS has implemented a policy on the Promotion of Gender Diversity at Board Level. This policy was approved by the RCL FOODS Board on 8 November 2017. RCL FOODS’ approach to nominations of Board members can be found in the RCL FOODS Corporate Governance Report.

The Board

RCL FOODS Board are responsible for the management, strategic development and implementation of Group processes.

Remuneration

We believe that working at RCL FOODS should be both professionally and personally rewarding. Learn about how our remuneration policies further the development of our people. The Board has delegated the authority and duties of RCL FOODS' Remuneration to the RCL FOODS' Remuneration and Nominations Committee who are committed to the principles of accountability and transparency and to ensuring that the reward arrangements are linked to Group performance, and are market related and support the business strategies.

Corporate Ethics

Honesty, integrity and a commitment to operating by the highest ethical and legal standards are what drive our corporate ethics policy.

Board Committees

Board Committees have been appointed to assist the Board in discharging its responsibilities. Together the Board Committees have a shared responsibility to manage and implement the strategies and directives as set out by the Board. Explore the committees and their individual roles below.

Risk Management

Risk management is considered by the Board to be a key business discipline designed to balance risk and reward and to protect the Group against uncertainties that could threaten the achievement of business objectives. We have implemented various systems, including a risk committee, to manage and mitigate corporate risk. These processes are geared towards ensuring organisational excellence throughout our company. The Board assigned oversight of the Group’s risk management function to the Risk Committee.

RCL FOODS operates in a complex environment where macro-economic, social, regulatory, natural and technological factors can impact the Group’s strategy. These factors form the foundation for defining the RCL FOODS’ risk universe, as represented below.   

For further information, please refer to the following Corporate Governance documents

 

Corporate Governance Report

 

Application of KING III Principles Report

 

Remuneration Report