Annual Report - JD Group

The purpose of this committee is to address general business risks
applicable to the business units and corporate service departments,
credit risks, exchange rate exposure, insurable losses, interest rate
and liquidity risks as well as legislative and external risks. The
findings of this committee are reported to the audit committee.
A dedicated assets and liabilities management subcommittee,
comprising Jan Bezuidenhout and Gerald Völkel, reports to this
committee.
A risk management executive committee, comprising chain and
corporate service department executives, also reports to this
committee.
The board is confident that the fundamental processes are now in
place to ensure compliance with current and future risk
management requirements.
Risks are identified and monitored through the planning process,
the close involvement of the executive directors in the Group’s
operations and the periodic monitoring of key issues to ensure
that the significant risks faced by the Group are evaluated in terms
of impact and severity rating and appropriately managed.
Risk is not only viewed from a negative perspective. The review
process also identifies areas of opportunity, such as where effective
risk management can be turned to competitive advantage.
The attendance register of meetings is set out below.
2003 2004
Member 11 Nov 11 Feb 14 May 10 Nov
D Konar P P P P
IR Child P P P P
JHC Kok P P P P
LM Mentor A P P P
PJ Pienaar P P P P
MJ Richards P P A P
MJ Shaw P P P P
HC Strauss P P P P
G Völkel A P P P
P = Present A = Apologies
JDG Trading board
JDG Trading (Pty) Ltd is the wholly owned South African trading
company of JD Group.
Composition of board
The board of JDG Trading consists of the five executive
directors of JD Group, namely David Sussman, Mias Strauss,
5
Jan Bezuidenhout, Johan Kok and Gerald Völkel; and four senior
executives, namely Mark Richards, Athol Beeforth, Vivian Horn
and Arie Neven. Meetings are chaired by either David or Mias.
The directors are individually mandated, empowered and held
accountable for implementing the strategies and key policies
determined by the JD Group board; managing and monitoring the
business and affairs of the organisation in accordance with approved
business plans and budgets; prioritising the allocation of capital and
other resources and establishing best management and operating
practices. Structured management succession planning, for purposes
of identifying, developing and advancing of future leaders in the
Group, is an important element in the managing process.
Purpose of the board
The purpose of the board is to serve as a governance mechanism
through the process of semi-annual Group performance reporting.
Frequency of meetings
Meetings are held semi-annually to coincide with the
announcements of results and on an ad hoc basis, as required.
Management committees
Specific responsibilities have been delegated to various
management committees, all of which have defined charters
in place.
Executive committee (EXCO)
Composition of committee
The committee comprises David Sussman (chairman), Mias Strauss,
Jan Bezuidenhout, Gerald Völkel, Johan Kok, Mark Richards,
Athol Beeforth, Arie Neven, Vivian Horn, Fred Ginsberg and
Henk Greeff.
Purpose of committee
The purpose of the committee is to translate Group board
strategic direction into a Group strategic plan and to address
other items considered crucial for business success; to oversee
the strategic planning process in order to secure successful
implementation; and to monitor Group performance in
accordance with the Group strategic plan.
Agendas
The agendas include the monitoring of strategic business goals,
performance review, risk review, succession planning, business
intelligence, and establishing and monitoring Group policies
and procedures.
Frequency of meetings
Meetings are held on a monthly basis.