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SLM
SLM
Sanlam Limited - Sanlam reviews corporate governance structures
Registered name: Sanlam Limited
(Registration number 1959/001562/06)
JSE share code: SLM
NSX share code: SLA
ISIN number: ZAE000070660
Sanlam reviews corporate governance structures
In line with Sanlam"s commitment to the highest level of corporate governance
and best practice, the Board of Sanlam Limited has undertaken a review of the
Group"s major corporate governance structures, including those of the main and
subsidiary Boards and their Committees.
The review aims to streamline the decision-making processes as to increase the
efficiency of the Group at both the Board and operational levels and to further
promote corporate governance.
To meet these objectives, the Board of Sanlam Limited, at it"s meeting on 7 June
2006, decided to:
1. Appoint the same non-executive directors to the Boards of Sanlam Limited and
Sanlam Life Insurance Limited and for these two Boards to hold combined
meetings. Lize Lambrechts, Themba Gamedze and Heinie Werth will stand down as
executive directors of Sanlam Life Insurance Ltd. Roy Andersen will be chairman
of both these Boards.
2. Establish three new Board Committees - the Retail Cluster Committee, the
Institutional Cluster Committee and the Short-term Insurance Cluster Committee.
These committees will be appropriately authorised to direct and monitor all
strategic implementation and operational performance aspects of their
businesses. The Sanlam Personal Finance and Entry Level Market Business
Divisions will in future comprise the Retail Business Cluster, while the Sanlam
Investment Management, Sanlam Capital Markets and Sanlam Employee Benefits
Divisions will comprise the Institutional Business Cluster
3. Establish a new Policyholder Interest Committee to review and monitor all
policyholder related decisions in the Group at a strategic level. The Committee
has been established in response to increased consumerism and the questioning of
the insurance industry"s value proposition and business models as it relates to
its clients. The committee will perform its responsibilities in addition to
Sanlam"s existing complaints handling and its Internal Ombudsman facilities.
4 Combine the existing Transformation and Safety, Health and Environment
Committees into a new Sustainability Committee to better address Sanlam"s key
social and economic performance areas. The merger is consistent with leading
international trends.
These decisions by the Sanlam Board will be implemented following the next
shareholder and Board meetings of subsidiary companies. These decisions will
not influence the activities of the various Sanlam business divisions and their
Boards, executive teams and employees or the services provided to their clients.
The existing Divisional Boards will remain in place but might be reconstituted
at a later stage.
Following the re-election and election of members to the board of Sanlam Limited
at its AGM on 7 June 2006, the Board now comprises of the following members:
Independent non-executive directors:
Roy Andersen (Chairman)
Manana Bakane-Tuoane
Anton Botha
Attie du Plessis
Fran du Plessis
Wilmot James
Valli Moosa
Raisibe Morathi
Sipho Nkosi
Ian Plenderleith
Maria Ramos
George Rudman
Bernard Swanepoel
Eugene van As
Boetie van Zyl
Lazarus Zim
Non-Executive directors:
Patrice Motsepe (Deputy Chairman)
Rejoice Simelane
Executive directors:
Johan van Zyl (Group Chief Executive)
Flip Rademeyer (Financial Director)
In terms of the Board"s decision, all these directors will also become directors
of Sanlam Life Insurance Limited ("Sanlam Life").
The Board Committees comprise of the following directors:
Nomination Committee: Sanlam Ltd
Roy Andersen (Chairman)
Manana Bakane-Tuoane
Patrice Motsepe
Maria Ramos
Sustainability Committee: Sanlam Ltd
Valli Moosa (Chairman)
Wilmot James
Rejoice Simelane
Bernard Swanepoel
Lazarus Zim
Non-Executive Directors" Committee: Sanlam Ltd
Roy Andersen (Chairman)
All Sanlam Ltd non-executive directors
Policyholder Interest Committee: Sanlam Ltd
Fran du Plessis (Chairman)
Wilmot James
Boetie van Zyl
Other appointments to this committee:
Chris Swanepoel (former Chief Actuary, Sanlam Limited)
Andre Zeeman (Chief Actuary, Sanlam Limited
Retail Cluster Committee: Sanlam Life
Johan van Zyl (Chairman)
George Rudman
Manana Bakane-Tuoane
Sipho Nkosi
Rejoice Simelane
Bernard Swanepoel
Flip Rademeyer
Other appointments to this committee:
Lize Lambrechts (Chief Executive, Sanlam Personal Finance)
Heinie Werth (Chief Executive, Developing Markets)
Ian Kirk (Chief Executive, Strategy and Special Projects)
Kobus Moller (Chief Executive, Finance)
Institutional Cluster Committee: Sanlam Life
Johan van Zyl (Chairman)
Anton Botha
Attie du Plessis
Valli Moosa
Raisibe Morathi
Ian Plenderleith
Flip Rademeyer
Other appointments to this committee:
Themba Gamedze (Chief Executive, Sanlam Employee Benefits)
Johan van der Merwe (Chief Executive, Sanlam Investment Management)
Ian Kirk (Chief Executive, Strategy and Special Projects)
Kobus Moller (Chief Executive, Finance)
Short-Term Insurance Committee: Sanlam Life
Johan van Zyl (Chairman)
George Rudman
Flip Rademeyer
Other appointments to this committee:
Kobus Moller (Chief Executive, Finance)
Audit & Risk Committee: Sanlam Ltd & Sanlam Life
George Rudman (Chairman)
Attie du Plessis
Fran du Plessis
Ian Plenderleith
Eugene van As
Human Resources Committee: Sanlam Ltd & Sanlam Life
Anton Botha (Chairman)
Roy Andersen
Patrice Motsepe
Maria Ramos
Boetie van Zyl
13 June 2006
Sponsor: J.P. Morgan Equities Limited
Date: 13/06/2006 12:15:11 PM Produced by the JSE SENS Department
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