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traNSFORMATION MANDATE

To assist the Altron Executive Committee in discharging its responsibility for ensuring that broad based black economic empowerment is pursued and implemented throughout the Altron group by inter alia :

  • promoting economic transformation in order to enable meaningful participation of black people in the economy;
  • achieving a substantial change in the racial composition of ownership and management structures and in the skilled occupations of existing and new businesses;
  • increasing the extent to which communities, workers, co-operatives and other collective businesses own and manage existing and new businesses and increasing their access to economic activities, infrastructure and skills training;
  • increasing the extent to which black women own and manage existing and new businesses, and increasing their access to economic activities, infrastructure and skills training;
  • increasing participation by black disabled employees.
  • promoting investment programmes that lead to broad based and meaningful participation in the economy by black people in order to achieve sustainable development and general prosperity;
  • empowering rural and local communities by enabling them to gain access to economic activities, land infrastructure, ownership and skills; and
  • promoting access to finance for black economic empowerment.

Terms of reference

Appointment
The Transformation Committee shall be a sub-committee of the Altron Executive Committee to, which is delegated, certain duties and responsibilities more fully described below, but for which the Altron Executive Committee remains ultimately responsible.
 
Membership
The committee shall comprise a minimum of 6 members, at least one of whom shall be an executive director of Allied Electronics Corporation Limited (“Altron”). The quorum shall be a majority of the members appointed.

The Chairman of the committee shall be appointed by the committee. At the Chairman’s discretion, other directors and senior executives of the Altron group may be invited to attend meetings of the Transformation Committee from time to time.

The Chief Executive of Altron shall have right of attendance at meetings of the committee.

Authority
The Transformation Committee shall have the authority to seek any information it requires from any officer or employee of Altron or its subsidiary and associate companies, and, where circumstances require, such officers or employees shall respond to such enquiries.
The Transformation Committee is authorised to take such independent professional advice as it considers necessary and which is approved beforehand by the Altron Executive Committee.
 
Objectives, duties and responsibilities
To the extent considered necessary, which shall be within the committee’s discretion, the Transformation Committee shall:
  • review the adequacy of the Altron group’s compliance with broad based black economic empowerment legislation in South Africa;
  • review management’s monitoring of employment equity throughout the Altron group;
  • review the promotion, by black people, of ownership and control of selected Altron group operations by inter alia:
  • improving communications between the business, its shareholders and other stakeholders;
  • formalising planning and reporting mechanisms to ensure that all shareholders have up-to-date information on the progress of the business;
  • realising that ownership is only one of the seven Elements in the Codes of Good Practice;
  • ensuring parallel ownership and business planning;
  • setting a timetable for any transition of ownership and/or management control, and continuously and closely monitoring the process; and
  • making sure that the broad-based BEE plan is dynamic and sufficiently flexible to react to any unforeseen changes or events that may occur in the business itself or the environment within which it operates.
  • review the promotion of human resource development via employment equity and skills development initiatives;
  • review indirect empowerment, which includes the level of procurement sourced from graded, broad based black empowerment enterprises, enterprise development through the provision of financial and/or operational assistance to such enterprises, as well as corporate social responsibility initiatives;
  • review the DTI Codes of Good Practice and make recommendations in respect thereof;
  • review relevant sectoral charters and propose amendments thereto;
  • review the findings of any examination by verification agencies, such as Empowerdex;
  • if necessary, institute special investigations and, if appropriate, hire special counsel or experts to assist;
  • review policies on sensitive issues or practices such as discrimination in the workplace; and
  • review and propose Altron group transformation initiatives in line with the Codes of Good Practice Charters and other applicable Charters.
Reporting
The Chairman of the Transformation Committee shall make a brief written report of the findings and recommendations of the committee to the Altron Executive Committee and board after each committee meeting. The minutes of all committee meetings shall be circulated to members of the Altron Executive Committee and the board. Supporting schedules and information reviewed by the committee will be available for examination by the Altron Executive Committee upon request to the secretary.

The Transformation Committee shall have no executive powers with regard to its findings and recommendations.

Meetings
Meetings shall be held at least every other month.Additional meetings may be held, as and when deemed necessary.The secretary, in conjunction with the Chairman, shall draw up an agenda which together with the supporting papers shall be circulated at least five working days prior to each meeting.

 

Page updated: 5 January, 2010 » Return to top