Corporate governance

Introduction and endorsement of sound corporate governance principles

This corporate governance statement sets out the key governance principles and practices of JD Group Limited (the Group).

The board of directors (the board) is committed to and subscribes to the values of good corporate governance contained in the third King Report on Governance for South Africa and the King Code of Governance Principles (jointly King III). The board endorses the principles of fairness, responsibility, transparency and accountability advocated by King III. In all dealings, the board applies a stakeholder-inclusive approach, ensuring that the interests of the Company are of the utmost importance in their decisions, but subject always to proper consideration of the legitimate interests and expectations of relevant stakeholders. As good corporate governance is essentially about leadership, the board leads by example in promoting high ethical values, a sense of duty and sound morals, which are encapsulated in the board’s Code of Conduct. It conducts the enterprise with integrity and in compliance with best practices, while taking cognisance of the value systems of the countries in which the Group operates. As the key decision-makers and leaders of the organisation, the directors recognise that social transformation in South Africa in particular is a business imperative, not only affording opportunities to the previously disadvantaged, but also benefiting the Company and its stakeholders. As a consequence, the Company remains closely involved in the communities where it conducts its business and subscribes to the various transformation and empowerment codes applicable to its business in South Africa.