MONEYWEB: Corporate governance issues are becoming more deeply entrenched within South African businesses but head-hunting group, Odgers, Ray & Berndtson suggest there may be one issue that needs a bit more attention. Jamie Robertson is a managing partner at the firm. Jamie, for a start, I need a star for being able to say the name of your partnership.
JAMIE ROBERTSON: I’m very sorry about that.
MONEYWEB: Jamie, you’ve raised the point that some companies – and we’re talking about South African companies – may still be making the mistake of appointing non-executive directors who are not necessarily independent from the CEO and the chairman.
JAMIE ROBERTSON: Yes. I think if we look at what’s happened in the States and in the UK with Sarbanes-Oxley and Derek Higgs in terms of corporate governance, it will filter down here at some point – and it did have a complete review of how non-executive directors and chairmen were appointment to he board. And I think that there is a lot to be said for reviewing how corporates really appoint their non-executives that would then balance the power on the board and actually protect an awful lot more of the shareholders interests.
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