The Tellumat Group implements sound corporate governance principles. The Board consists of 7 directors, of which 5 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 strategic plans and the annual budget of the company and its divisions, and reviews ongoing operations. Subject to a hierarchy of delegated authorities, the Board 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.