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Corporate Governance
Tellumat implements sound corporate governance principles in the group. The Board consists of 6 directors, of which 4 are non-executive. The Chairman is a non-executive director, and the roles of Chairman and Chief Executive are split. Separate board audit and remuneration committees provide oversight on these matters. The Board approves the strategic plans and annual budget of the company and its divisions, reviews ongoing operations and, subject to a hierarchy of delegated authorities, is required to authorise decisions on material matters.
Financial and Business Strategies
Sound management principles and processes are in place in the group. Tellumat (Pty) Ltd is controlled, managed and operated on a decentralised basis by divisional management teams and local management is accountable for performance and operations. Strategic plans, which are regularly reviewed and updated, form the basis of annual budgets and targets.
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