The Board of Ithala SOC Limited is responsible for the decision-making process pertaining to strategy, planning and performance, allocation of resources, business ethics and risk management and communication with stakeholders.
The Terms of Reference and Charter for the Board define the framework, authority and parameters within which the Board operates. For ease of alignment and business interface with the company, the Board invites Executive Management to its meetings, whilst specifically reserving their right to meet without Management’s presence as required. The Board is fully committed to maintaining the standards of integrity, accountability and openness required to achieve effective corporate governance. The Charter confirms the Board’s accountability, fiduciary duties, duty to declare conflict of interests, appointments to committees and relationships with the Company’s staff and meeting procedures.
Ithala SOC Limited's Board currently comprises five independent Non-Executive Directors, one Non-Executive Director and two Executive Directors. Ithala’s definition of ‘independent’ and ‘non-executive’ are in line with those of King III.
The Board has finance, audit, legal, risk management and human resources skills and experience. It also has skills and experience in general business, aligned to the company’s scope of operations. In line with our strategic objectives and turn-around strategy, for example, a Director with IT skills would be a distinct advantage.
As at 31 March 2015, Ithala SOC Limited's Board comprised:
Our Executive Management team encompasses a diverse array of experience, forming a collective skill set that allows Ithala to thrive in all aspects of our business. Our Executive Management team guides the day-to-day implementation of the strategy and ensures the continued sustainability of the organisation.