The Central Gauteng Lions is focused on ensuring good governance and operational excellence, resulting in a performance-driven culture.
CORPORATE GOVERNANCE
The corporate governance statement outlines the Company’s key principles and governance practices, as well as commitment to informing internal and external stakeholders through transparent and comprehensible disclosure.
The directors regard corporate governance as critical to the success of the Company’s business and stakeholders’ interests and fundamental in discharging their stewardship responsibilities.
The Board strives to provide strong leadership, strategic direction and control, and a productive environment that can sustain the delivery of value to the Company’s members.
The directors are committed to applying the principles necessary to ensure that the highest standards of governance and accountability are practiced in the conduct of the Company’s business. These principles include honesty, transparency, integrity, discipline and accountability during business conduct. Each director brings a depth of experience and independence of judgment in his or her role as a Board member.
The Company subscribes to the values expressed in the Code of Corporate Practices and Conduct as set out in King IV and has already implemented several aspects of the Code.
THE BOARD
Board of Directors
Corporate governance within the Company is managed and monitored by a unitary Board of Directors and various Board sub-committees. The key principles underpinning the governance of the Company are to ensure that the Company conducts its business as a responsible corporate citizen through the development and implementation of strategies and policies that are integrated into every area of its operations.
Composition of the Board
The Board comprised of twelve directors. This includes:
- Five independent directors
- Seven non-independent directors
- One executive director (ex Officio)
BOARD SUB-COMMITTEES
Committees of the Board are appointed to perform specific tasks affecting the affairs of the Company. Committees of the Board have as the prime object of assisting the Board and management in fulfilling their responsibilities. Committees are, however, not to interfere with the responsibilities of the CEO and management with regard to the management of the Company and the implementation of operational issues. Therefore, any recommendations or proposals, particularly of a financial nature affecting
operational issues, must receive the prior approval of the CEO before being submitted to the Board. No committee or individual member is mandated to make decisions binding on the Company without prior approval of the Board. In addition, committees are required to only deal with business falling within their delegated authority. It is the general duty of committees to deal with all business timeously and to submit recommendations to the Company for its consideration and approval. In carrying out its tasks, a committee may obtain such outside or other independent professional advice as it considers necessary to carry out its duties, subject to such directives as may be determined by the Board.
The quorum for meetings of committees shall, in all cases, be one more than half the number of persons officially appointed to the specific committee. In determining the persons present and comprising the quorum, the ex officio members and co-opted members shall not be included. Notwithstanding the composition of the committees, the Board may, at its discretion if circumstances so require, vary the composition of any committee. The President and the CEO shall ex officio be members of all committees.
The role of Board sub-committees is formalised by terms of reference that define their authority and scope. Each sub-committee is chaired by a non-executive director. The Board sub-committees consist of the Executive, Remuneration and H.R, Audit, Governance and Risk, Finance and Procurement, Stadium, Marketing and Communications, Cricket Pipeline, Cricket Clubs/Council, Disciplinary, Transformation and Legal committees.