Governance approach

Governance approach

  The board recognises it is the custodian of corporate governance and always strives to ensure that the group aligns with local and international codes of good corporate governance, seeks to apply best practice and follows relevant trends in good corporate governance.

The extent to which Barloworld applies the principles and recommended practices in the King Report on Governance for South Africa (King III) is reviewed regularly. This review identifies the governance principles already being applied and those which the company needs to address or further entrench. The review also identifies areas of improvement or ways in which our governance practices can be enhanced.

  Our Worldwide Code of Conduct articulates Barloworld’s commitment to doing business the right way, guided by our values of integrity, excellence, teamwork, commitment and sustainability.

Our Code of Ethics requires Barloworld directors, management and employees to obey the law, respect others, be fair and honest, and protect the environment.

  Identifying risks and opportunities through a robust and systematic process is central to our strategic planning process.

A comprehensive risk management policy is in effect throughout the group and is complemented by the Barloworld Limited risk management philosophy.

REMUNERATION   Barloworld has adopted a holistic approach to its remuneration philosophy for senior executives and employees and has implemented a balanced structure which consists of both monetary and non-monetary components.

Our business strategy concentrates on six strategic focus areas, which are supported by performance indicators. How we reward our employees, in particular our executive directors and prescribed officers, is in line with our dedication to achieving our strategic objectives. Our remuneration approach and practices link into these focus areas.