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CR GOVERNANCE

 

Our Chairman, Christopher Collins is the Old Mutual Board member responsible for Corporate Responsibility (CR).  The Board receive reports at least twice yearly on the Group's activities. More frequent updates are held with Mr Collins by the CR team to ensure that he is fully aware of the issues affecting the Group.

The Group Executive Committee also receives regular updates on specific issues that affect the Group and updates on actions that are being taken to address them. The Corporate Responsibility function is managed by the Head of Corporate Responsibility who reports to the Group Human Resources Director. 

A network of people around the group is involved in the collection and reporting of CR issues. Each business unit had both a senior level executive named responsible for CR and then functional heads who are active on specific focus areas.

Corporate Responsibility is one of the core components of the Old Mutual Group strategy. The strategy is applicable across the Group and each business unit reports on their performance against it at quarterly reviews held by Old Mutual plc.

Corporate Governance

As a major company the Old Mutual Group is held to high standards of governance both by listing authorities such as the FSA and Johannesburg Stock Exchange and also by rating agencies and third parties who work with the Group to develop policies ensure that best practice is followed.

Old Mutual observes and complies with the Combined Code on Corporate Governance of the Financial Services Authority which contains broad principles on issues such as directors' remuneration, accountability and audit, shareholder relations and also many more specific provisions.  All companies incorporated in the UK and listed on the London Stock Exchange are required to report in their annual report and accounts on how they have applied the Combined Code and either to confirm that they have complied with its provisions or, where they have not, to provide an explanation.

King II is a governance code that relates to South African businesses. More information about the implications of this code on our South African businesses can be found on their websites.