Certification Governance Board members

The 2009 Certification Governance Board Nominees and Appointments

  • Chairperson nominee: Professor Mervyn King.  He has accepted the nomination.

Chairman of Brait, a Senior Counsel and former Judge of the Supreme Court of South Africa. He has chaired and been a director of several companies listed on the Johannesburg Stock Exchange, including First National Bank Holdings Limited, Capital Alliance Ltd, Metro Cash & Carry Ltd and Frame Group Holdings. In South Africa, he is Professor Extraordinaire at the University of South Africa on Corporate Citizenship, Chairman of the King Committee on Corporate Governance in South Africa, President of the Advertising Standards Authority, First Vice President of the Institute of Directors Southern Africa, a member of the Securities Regulation Panel which oversees all mergers and acquisitions in South Africa, and Chairman of the Appeal Committee of the United Cricket Board of South Africa.

He was the first President of the Commonwealth Association of Corporate Governance, a former Governor of the International Corporate Governance Network, the South African representative of the International Chamber of Commerce International Court of Arbitration in Paris and Chairman of the Board of Governors of the Wits University Foundation.

He is a member of the Private Sector Advisory Group to the World Bank on Corporate Governance, a member of the international advisory boards of Stern Stewart of the USA, Tomorrow’s Company of the United Kingdom and the Central European Corporate Governance Association. He is the Chairman of the Asian Centre of Corporate Governance, Chairman of the United Nations Committee on Governance and oversight and Chairman of the Global Reporting Initiative.

He is presently Chairman of the Automobile Association of South Africa, Strate, the settlement arm of trades in equities and other instruments in South Africa, Brait Societe Anonyme listed in Luxembourg, London and Johannesburg and a director of JD Group listed in Johannesburg. He has consulted, advised and spoken on legal, business and corporate governance issues in 32 countries and has received many awards.

  • Deputy Chairperson 1 appointment: David Harding (Corporate Renewal Solutions and present TMA-SA Board member).
  • Deputy Chairperson 2 nominees: Themba September (Ingerop, ex-ABASA), or Patrick Daly (Daly Maqubela Oliphant, ex-ABASA, King III Business Rescue Task Force, LSSA).
  • Group 1 of the CGB representing TMA-SA members not in Group 2 and non-TMA-SA members, and representing at most 50% of the CGB:
    • Nominee: Themba September (Ingerop, ex-ABASA) or Patrick Daly (Daly Maqubela Oliphant, ex-ABASA, King III Business Rescue Task Force, LSSA) depending on who is not elected as Deputy Chairperson.
    • Nominee: Ntombi Langa-Royds (Nthake Consultants and Corporate Renewal Solutions, 2009 Chair of TMA-SA).
    • Appointment: Professor Anneli Loubser (UNISA, King III Business Rescue Task Force, doctoral student in law, present TMA-SA Board member, a statutory position on the CGB as Chair of the Academic Subcommittee in terms of certification by-laws).
    • Nominee: Judge Ralph Zulman (King III Business Rescue Task Force).
    • Nominee: Danile Nyalunga (Head of Workout and Restructuring, IDC).
    • Nominees: A nominee from organised labour is awaited.

While TMA-SA membership is not required, those elected to Group 1 are requested to become members nonetheless as this will make it easier to comply with the certification licensing agreement with TMA.

Group 2 of the CGB representing TMA-SA members complying with requirements listed in the column on the left (which essentially relates to being experienced turnaround practitioners), and together with the Chairperson, representing 50% plus one of the CGB:

  • CEO: Jan van der Walt (Corporate Renewal Solutions, King III Business Rescue Task Force, doctoral student in business rescue, presently on the TMA-SA Board; in 2009 on TMA-SA Board as Certification Director in terms of certification by-laws, member of the Academic Subcommittee and Chair of the Standards Subcommittee).  Appointed by the TMA-SA Board on 19 March 2009.
  • Secretary: Philip Reynolds (Deloitte, SAICA), presently on the TMA-SA Board as Secretary).  Appointed by the TMA-SA Board on 19 March 2009.
  • Nominee: Karl Gribnitz (Gandalf Trust, presently on the TMA-SA Board).
  • Nominee: Gert Holtzhauzen (Nedbank, Banking Association of SA, past Chair of TMA-SA).
  • Nominee: John Sherrat (JWS Advisors).  Experienced corporate turnaround manager who established a certification programme with Services SETA before.
  • Nominees: One of Alistair Moffat or Lindsay Robertson (both from FRM Strategies), with the other as Alternate Director (permission for Alternates are still to be obtained).

Stakeholder representation

In the nominations above, most stakeholders in Chapter 6 business rescue are represented:

  • Boards of directors: Professor Mervyn King also represents the Institute of Directors.
  • Affected persons:
    • Shareholders: Professor Mervyn King also represents the Institute of Directors.
    • Creditors: secured creditors are represented by Gert Holtzhauzen of Nedbank (and the Banking Association?).  Unsecured creditors are not represented.
    • Employees/trade unions: Provision is made for a representative of organised labour.
    • Business rescue practitioners: A number of nominees will qualify as business rescue practitioners in terms of Chapter 6 of the Companies Act No. 71 of 2008.

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