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Governance report
How we govern our business
Bidcorp has a proven way of doing business. Our culture is proactive
and entrepreneurial rather than reactive and corporate. At local level,
our people are empowered to use their initiative, are held accountable
and rewarded accordingly. Our decentralised business model is
underpinned by our proven ability to attract, retain and develop
self-reliant people who make optimum use of the autonomy Bidcorp
provides. Criteria for staff selection and development are atypical.
Enthusiasm, the ability to deliver and aptitude for the work take
precedence over academic qualifications.
Bidcorp people and our business model are flexible and adaptable.
Macro-economic conditions change, so does the business cycle,
while the changing tastes and preferences of our customers can have
a material impact on demand patterns. Bidcorp therefore expects all
operations to be responsive and nimble.
Our competitive position has strengthened and market share
gains have been made in numerous markets irrespective of market
dynamics – positive or otherwise. Forward momentum is attributable
to independent decision making by autonomous teams, depth of local
knowledge, early identification of opportunities for expansion of the
business base and our relentless quest for quality service at pace.
Bidcorp embraces corporate governance as a way of life rather than
a way of putting ticks in the compliance “box”. Stakeholders can
only derive full, sustained value if the business is founded on honesty,
integrity, accountability and transparency. Bidcorp prizes simplicity.
Better focus makes it easier to manage your business and ensure
good governance.
A firm basis for robust governance is provided by an appropriate
structure that captures the talent and energy needed for continued
growth. The key features of this geographically diversified framework
are four international regions, supported by a South Africa-based head
office and listing on South Africa’s JSE Limited.
Each division is overseen by an independently chaired divisional audit
and risk committee. These committees are convened each quarter.
They collate information and report into the group structure, ensuring
accountability within each division while providing the Bidcorp board
with timely information flows. Reporting structures are flat.
How we integrate
Bidcorp recognises the value of an integrated approach to assurance
and compliance.
Bidcorp manages the challenge of good governance in a decentralised
environment by using a framework that integrates four basic pillars:
governance, assurance, risk management and compliance. This
framework ensures respect for legislated requirements and regulations
yet is flexible enough to accommodate the high level of change and
innovation experienced in today’s business environment.
Netherlands, Belgium, Poland,
Czech and Slovakia, Baltics,
Italy, Spain, Turkey
China/Hong Kong and
Singapore, Chile, Brazil,
Middle East, Southern Africa
Australia, New Zealand
Foodservice UK,
Fresh, Logistics
Remuneration
committee
Acquisitions
committee
Nominations
committee
Bidcorp board
Social and ethics
committee
Audit and risk
committee
Executive committee at entity level
Australasia
Audit
and risk
committee
United
Kingdom
Audit
and risk
committee
Europe
Audit
and risk
committee
Emerging
Markets
Audit
and risk
committee
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| Bidcorp Limited Annual integrated report 2016